Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 Old Republic International (ORI Quick QuoteORI - Free Report) . ORI is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors should also recognize that ORI has a P/B ratio of 1.34. 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. This stock's P/B looks solid versus its industry's average P/B of 2.49. Within the past 52 weeks, ORI's P/B has been as high as 1.34 and as low as 1.12, with a median of 1.26.

Finally, we should also recognize that ORI has a P/CF ratio of 8.53. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. ORI's current P/CF looks attractive when compared to its industry's average P/CF of 9.16. Within the past 12 months, ORI's P/CF has been as high as 13.03 and as low as 7.90, with a median of 10.28.

These are only a few of the key metrics included in Old Republic International's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, ORI looks like an impressive value stock at the moment.