The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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.

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 stock to keep an eye on is Plains Group (PAGP Quick QuotePAGP - Free Report) . PAGP is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 12.05. This compares to its industry's average Forward P/E of 18.42. Over the past year, PAGP's Forward P/E has been as high as 18.70 and as low as 10, with a median of 12.13.

Finally, our model also underscores that PAGP has a P/CF ratio of 3.25. 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 stock's P/CF looks attractive against its industry's average P/CF of 11.08. Over the past 52 weeks, PAGP's P/CF has been as high as 3.26 and as low as 2.50, with a median of 2.99.

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