While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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 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 company to watch right now is Compass Minerals International (CMP Quick QuoteCMP - Free Report) . CMP is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A.

Investors should also recognize that CMP has a P/B ratio of 1.22. Investors use the P/B ratio to look at a stock's market value versus 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. CMP's P/B has been as high as 2.99 and as low as 1.06, with a median of 1.96, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. CMP has a P/S ratio of 0.45. This compares to its industry's average P/S of 0.92.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Compass Minerals International is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CMP feels like a great value stock at the moment.