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.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 company value investors might notice is Mercury General (MCY Quick QuoteMCY - Free Report) . MCY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

We should also highlight that MCY has a P/B ratio of 1.49. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. MCY's current P/B looks attractive when compared to its industry's average P/B of 1.56. MCY's P/B has been as high as 2.35 and as low as 1.34, with a median of 1.92, over the past year.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. MCY has a P/S ratio of 0.54. This compares to its industry's average P/S of 1.27.

Finally, our model also underscores that MCY has a P/CF ratio of 5.36. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 9.68. MCY's P/CF has been as high as 11.42 and as low as 4.83, with a median of 6.72, all within the past year.

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