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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is Brookfield Renewable (BEPC Quick QuoteBEPC - Free Report) . BEPC is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. BEPC has a P/S ratio of 1.12. This compares to its industry's average P/S of 2.6.

Finally, our model also underscores that BEPC has a P/CF ratio of 6.13. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 8.32. Over the past year, BEPC's P/CF has been as high as 7.60 and as low as 3.62, with a median of 5.65.

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