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.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 stock to keep an eye on is DXP Enterprises (DXPE Quick QuoteDXPE - Free Report) . DXPE is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with a P/E ratio of 17.93, which compares to its industry's average of 23.19. DXPE's Forward P/E has been as high as 19.55 and as low as 7.59, with a median of 13.83, all within the past year.

We should also highlight that DXPE has a P/B ratio of 3.02. 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 solid versus its industry's average P/B of 5.75. Over the past year, DXPE's P/B has been as high as 3.02 and as low as 1.32, with a median of 2.06.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. DXPE has a P/S ratio of 0.71. This compares to its industry's average P/S of 1.91.

Finally, investors should note that DXPE has a P/CF ratio of 12.56. 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 21.20. Over the past 52 weeks, DXPE's P/CF has been as high as 12.56 and as low as 5.18, with a median of 8.55.

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