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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 CHOW TAI FOOK (CJEWY Quick QuoteCJEWY - Free Report) . CJEWY 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 11.01, while its industry has an average P/E of 20.78. Over the past year, CJEWY's Forward P/E has been as high as 19.19 and as low as 9.49, with a median of 14.30.

Another notable valuation metric for CJEWY is its P/B ratio of 2.15. The P/B ratio pits a stock's market value against 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 3.27. CJEWY's P/B has been as high as 3.21 and as low as 1.83, with a median of 2.50, over the past year.

These are only a few of the key metrics included in CHOW TAI FOOK'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, CJEWY looks like an impressive value stock at the moment.