The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find 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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 company to watch right now is Comstock Resources (CRK Quick QuoteCRK - Free Report) . CRK is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 7.44, while its industry has an average P/E of 16.33. CRK's Forward P/E has been as high as 132.30 and as low as -109.12, with a median of 8.62, all within the past year.

Investors should also recognize that CRK has a P/B ratio of 1.27. 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. This stock's P/B looks attractive against its industry's average P/B of 2.24. Over the past 12 months, CRK's P/B has been as high as 1.86 and as low as -0.45, with a median of 1.06.

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