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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. 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.

One company to watch right now is Helen of Troy (HELE). HELE is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

HELE is also sporting a PEG ratio of 1.03. 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. HELE's PEG compares to its industry's average PEG of 1.63. Over the last 12 months, HELE's PEG has been as high as 1.65 and as low as 0.79, with a median of 1.24.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. HELE has a P/S ratio of 0.73. This compares to its industry's average P/S of 1.04.

Finally, investors should note that HELE has a P/CF ratio of 7.37. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 27.69. HELE's P/CF has been as high as 14.21 and as low as 5.59, with a median of 10.53, all within the past year.

These are only a few of the key metrics included in Helen of Troy'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, HELE looks like an impressive value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Helen of Troy Limited (HELE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research