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.

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.

Old Republic International (ORI Quick QuoteORI - Free Report) is a stock many investors are watching right now. ORI is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

We should also highlight that ORI has a P/B ratio of 1.39. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.52. ORI's P/B has been as high as 1.40 and as low as 1.12, with a median of 1.26, over the past year.

Finally, our model also underscores that ORI has a P/CF ratio of 8.85. 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 9.28. 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 figures are just a handful of the metrics value investors tend to look at, but they help show that Old Republic International is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, ORI feels like a great value stock at the moment.