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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is The Interpublic Group of Companies (IPG Quick QuoteIPG - Free Report) . IPG is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Another notable valuation metric for IPG is its P/B ratio of 3.84. The P/B is a method of comparing a stock's market value to 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 5.07. Within the past 52 weeks, IPG's P/B has been as high as 4.12 and as low as 2.84, with a median of 3.54.

Finally, our model also underscores that IPG has a P/CF ratio of 11.47. 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. This stock's P/CF looks attractive against its industry's average P/CF of 11.98. Over the past year, IPG's P/CF has been as high as 12.19 and as low as 7.59, with a median of 9.39.

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