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, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company value investors might notice is Mitie Group (MITFY Quick QuoteMITFY - Free Report) . MITFY is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 10.43, which compares to its industry's average of 20.84. Over the past 52 weeks, MITFY's Forward P/E has been as high as 10.96 and as low as 8.66, with a median of 9.93.

Investors should also recognize that MITFY has a P/B ratio of 3.63. 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. MITFY's current P/B looks attractive when compared to its industry's average P/B of 3.74. Over the past 12 months, MITFY's P/B has been as high as 3.66 and as low as 2.85, with a median of 3.33.

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