Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

The Interpublic Group of Companies (IPG Quick QuoteIPG - Free Report) is a stock many investors are watching right now. IPG is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

We should also highlight that IPG has a P/B ratio of 4. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. IPG's current P/B looks attractive when compared to its industry's average P/B of 5.47. IPG's P/B has been as high as 4.92 and as low as 3.53, with a median of 4.37, over the past year.

Finally, investors will want to recognize that IPG has a P/CF ratio of 11.11. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. IPG's P/CF compares to its industry's average P/CF of 13.24. Over the past 52 weeks, IPG's P/CF has been as high as 16.89 and as low as 9.81, with a median of 13.41.

These are just a handful of the figures considered in The Interpublic Group of Companies's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that IPG is an impressive value stock right now.