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.

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

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Flex (FLEX) is a stock many investors are watching right now. FLEX is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 9.87. This compares to its industry's average Forward P/E of 16.58. Over the past year, FLEX's Forward P/E has been as high as 11.41 and as low as 8.10, with a median of 9.81.

Investors will also notice that FLEX has a PEG ratio of 0.80. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. FLEX's PEG compares to its industry's average PEG of 1.81. FLEX's PEG has been as high as 1.09 and as low as 0.61, with a median of 0.78, all within the past year.

Investors should also recognize that FLEX has a P/B ratio of 1.96. The P/B is a method of comparing a stock's market value to 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 4.15. Over the past year, FLEX's P/B has been as high as 2.47 and as low as 1.56, with a median of 2.06.



Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. FLEX has a P/S ratio of 0.43. This compares to its industry's average P/S of 0.92.

Finally, our model also underscores that FLEX has a P/CF ratio of 9.89. 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 19.10. Over the past 52 weeks, FLEX's P/CF has been as high as 10.08 and as low as 6.98, with a median of 8.85.

Investors could also keep in mind Spectris (SEPJY), an Electronics - Miscellaneous Products stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

Additionally, Spectris has a P/B ratio of 2.13 while its industry's price-to-book ratio sits at 4.15. For SEPJY, this valuation metric has been as high as 2.87, as low as 2.04, with a median of 2.35 over the past year.

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

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