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.

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.

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 stock to keep an eye on is Tsakos Energy Navigation (TNP). TNP is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 3.17, which compares to its industry's average of 6.93. Over the last 12 months, TNP's Forward P/E has been as high as 3.29 and as low as 1.74, with a median of 2.36.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. TNP has a P/S ratio of 1.01. This compares to its industry's average P/S of 1.44.

Finally, investors will want to recognize that TNP has a P/CF ratio of 1.99. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. TNP's current P/CF looks attractive when compared to its industry's average P/CF of 7.38. Over the past 52 weeks, TNP's P/CF has been as high as 2.07 and as low as 0.95, with a median of 1.28.

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

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