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.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

Kyocera (KYOCY) is a stock many investors are watching right now. KYOCY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 20.28. This compares to its industry's average Forward P/E of 20.54. Over the past 52 weeks, KYOCY's Forward P/E has been as high as 88.37 and as low as 17.80, with a median of 22.28.

KYOCY is also sporting a PEG ratio of 1.71. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. KYOCY's industry has an average PEG of 1.76 right now. KYOCY's PEG has been as high as 12.39 and as low as 1.59, with a median of 2.87, all within the past year.

Value investors also use the P/S ratio. The P/S ratio is 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. KYOCY has a P/S ratio of 1.11. This compares to its industry's average P/S of 1.51.

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

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