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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. 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 value investors might notice is Methanex (MEOH). MEOH is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 12.01 right now. For comparison, its industry sports an average P/E of 16.38. Over the past 52 weeks, MEOH's Forward P/E has been as high as 19.13 and as low as 9.66, with a median of 14.14.

Investors should also recognize that MEOH has a P/B ratio of 1.43. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. MEOH's current P/B looks attractive when compared to its industry's average P/B of 1.88. Over the past 12 months, MEOH's P/B has been as high as 1.67 and as low as 1.08, with a median of 1.39.

Finally, investors should note that MEOH has a P/CF ratio of 6.09. 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 10.17. Over the past year, MEOH's P/CF has been as high as 6.73 and as low as 4.54, with a median of 5.74.

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

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