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.

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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is TerrAscend Corp. (TSNDF Quick QuoteTSNDF - Free Report) . TSNDF is currently holding a Zacks Rank #2 (Buy) and a Value grade of A.

Another notable valuation metric for TSNDF is its P/B ratio of 2.2. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 5.18. Over the past year, TSNDF's P/B has been as high as 2.97 and as low as 0.43, with a median of 0.93.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. TSNDF has a P/S ratio of 0.84. This compares to its industry's average P/S of 1.51.

These are only a few of the key metrics included in TerrAscend Corp.'s strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, TSNDF looks like an impressive value stock at the moment.