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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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.

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 to watch right now is BuildABear Workshop (BBW Quick QuoteBBW - Free Report) . BBW is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 12.58, while its industry has an average P/E of 18.62. Over the past 52 weeks, BBW's Forward P/E has been as high as 13.64 and as low as 6.41, with a median of 9.89.

Finally, we should also recognize that BBW has a P/CF ratio of 9.50. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 20.97. BBW's P/CF has been as high as 10.26 and as low as 5.17, with a median of 7.73, all within the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that BuildABear Workshop is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, BBW feels like a great value stock at the moment.