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.

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.

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 stock to keep an eye on is Paramount Group (PGRE). PGRE is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 9.41, which compares to its industry's average of 15.22. Over the last 12 months, PGRE's Forward P/E has been as high as 10.93 and as low as 6.13, with a median of 7.45.

Finally, we should also recognize that PGRE has a P/CF ratio of 4.83. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 14.70. Over the past 52 weeks, PGRE's P/CF has been as high as 403.67 and as low as 4.33, with a median of 16.97.

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

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Paramount Group, Inc. (PGRE) : Free Stock Analysis Report

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

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