While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 CarMax (KMX Quick QuoteKMX - Free Report) . KMX is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Finally, investors will want to recognize that KMX has a P/CF ratio of 19.49. 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. KMX's P/CF compares to its industry's average P/CF of 31.47. Over the past year, KMX's P/CF has been as high as 20.19 and as low as 14.20, with a median of 16.87.

These are just a handful of the figures considered in CarMax's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that KMX is an impressive value stock right now.