While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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.

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.

Urban Outfitters (URBN) is a stock many investors are watching right now. URBN is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with P/E ratio of 10.67 right now. For comparison, its industry sports an average P/E of 15.66. URBN's Forward P/E has been as high as 14.69 and as low as 9.02, with a median of 11.43, all within the past year.

Investors should also note that URBN holds a PEG ratio of 1.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. URBN's industry has an average PEG of 1.26 right now. URBN's PEG has been as high as 1.49 and as low as 0.57, with a median of 0.94, all within the past year.

Another notable valuation metric for URBN is its P/B ratio of 1.83. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. URBN's current P/B looks attractive when compared to its industry's average P/B of 5.05. URBN's P/B has been as high as 2.37 and as low as 1.40, with a median of 1.83, over the past year.

Finally, investors should note that URBN has a P/CF ratio of 8.92. 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. URBN's current P/CF looks attractive when compared to its industry's average P/CF of 13.25. URBN's P/CF has been as high as 12.80 and as low as 7.56, with a median of 9.81, all within the past year.

These are only a few of the key metrics included in Urban Outfitters'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, URBN looks like an impressive value stock at the moment.

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Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report

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

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