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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

Reynolds Consumer Products (REYN) is a stock many investors are watching right now. REYN is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Another notable valuation metric for REYN is its P/B ratio of 2.82. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. REYN's current P/B looks attractive when compared to its industry's average P/B of 6.72. Over the past 12 months, REYN's P/B has been as high as 3.35 and as low as 2.64, with a median of 3.

Finally, our model also underscores that REYN has a P/CF ratio of 11.73. 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 43.15. REYN's P/CF has been as high as 14.72 and as low as 10.97, with a median of 12.97, all within the past year.

These are only a few of the key metrics included in Reynolds Consumer Products'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, REYN looks like an impressive value stock at the moment.

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