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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is Sendas Distribuidora (ASAI Quick QuoteASAI - Free Report) . ASAI is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

We also note that ASAI holds a PEG ratio of 0.31. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ASAI's PEG compares to its industry's average PEG of 0.39. Within the past year, ASAI's PEG has been as high as 1.49 and as low as 0.27, with a median of 0.63.

Investors should also recognize that ASAI has a P/B ratio of 2.91. 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 attractive against its industry's average P/B of 6.17. Within the past 52 weeks, ASAI's P/B has been as high as 4.68 and as low as 2.50, with a median of 3.97.

These are only a few of the key metrics included in Sendas Distribuidora'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, ASAI looks like an impressive value stock at the moment.