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.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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.

Abercrombie & Fitch (ANF Quick QuoteANF - Free Report) is a stock many investors are watching right now. ANF is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock holds a P/E ratio of 13.54, while its industry has an average P/E of 16.19. ANF's Forward P/E has been as high as 24.20 and as low as 11.21, with a median of 16.22, all within the past year.

Finally, investors should note that ANF has a P/CF ratio of 11.37. 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. ANF's P/CF compares to its industry's average P/CF of 15.27. Within the past 12 months, ANF's P/CF has been as high as 18.04 and as low as 9.21, with a median of 13.30.

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