The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is Modine Manufacturing (MOD Quick QuoteMOD - Free Report) . MOD is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors will also notice that MOD has a PEG ratio of 0.62. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. MOD's PEG compares to its industry's average PEG of 0.82. Within the past year, MOD's PEG has been as high as 1.56 and as low as 0.59, with a median of 0.91.

Finally, investors should note that MOD has a P/CF ratio of 4.08. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. MOD's P/CF compares to its industry's average P/CF of 13.06. Over the past 52 weeks, MOD's P/CF has been as high as 5.01 and as low as -6.77, with a median of -4.55.

Value investors will likely look at more than just these metrics, but the above data helps show that Modine Manufacturing is likely undervalued currently. And when considering the strength of its earnings outlook, MOD sticks out at as one of the market's strongest value stocks.