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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is MasterCraft Boat (MCFT Quick QuoteMCFT - Free Report) . MCFT is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Investors should also recognize that MCFT has a P/B ratio of 3.65. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 6.78. MCFT's P/B has been as high as 7.62 and as low as 3.54, with a median of 4.51, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. MCFT has a P/S ratio of 0.75. This compares to its industry's average P/S of 1.39.

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