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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. 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 company to watch right now is Oil States International (OIS). OIS is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 13.12, which compares to its industry's average of 15.01. Over the past year, OIS's Forward P/E has been as high as 28.91 and as low as 10.44, with a median of 15.06.

Another valuation metric that we should highlight is OIS's P/B ratio of 0.44. 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 1.30. Over the past year, OIS's P/B has been as high as 0.60 and as low as 0.37, with a median of 0.47.

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

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Oil States International, Inc. (OIS) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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