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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

SSAB (SSAAY) is a stock many investors are watching right now. SSAAY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Another notable valuation metric for SSAAY is its P/B ratio of 0.89. 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. This company's current P/B looks solid when compared to its industry's average P/B of 1.34. SSAAY's P/B has been as high as 1.10 and as low as 0.57, with a median of 0.80, over the past year.

Finally, investors will want to recognize that SSAAY has a P/CF ratio of 5.88. 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. This stock's P/CF looks attractive against its industry's average P/CF of 11.66. SSAAY's P/CF has been as high as 7.25 and as low as 3.19, with a median of 3.99, all within the past year.

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

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

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