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.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 stock to keep an eye on is Funko (FNKO Quick QuoteFNKO - Free Report) . FNKO is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Another notable valuation metric for FNKO is its P/B ratio of 2.99. 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 company's current P/B looks solid when compared to its industry's average P/B of 6.59. Over the past year, FNKO's P/B has been as high as 3.27 and as low as 1.33, with a median of 2.38.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. FNKO has a P/S ratio of 0.69. This compares to its industry's average P/S of 0.71.

Finally, our model also underscores that FNKO has a P/CF ratio of 16.14. 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 42.32. FNKO's P/CF has been as high as 26.26 and as low as -8.67, with a median of 14.44, all within the past year.

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