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

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Winnebago Industries (WGO) is a stock many investors are watching right now. WGO is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 8.79, while its industry has an average P/E of 12.71. Over the past year, WGO's Forward P/E has been as high as 26.34 and as low as 8.03, with a median of 11.43.

Another notable valuation metric for WGO is its P/B ratio of 2.30. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 3.08. Over the past 12 months, WGO's P/B has been as high as 3.12 and as low as 1.84, with a median of 2.47.

Finally, investors will want to recognize that WGO has a P/CF ratio of 8.59. 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 13.56. Over the past year, WGO's P/CF has been as high as 24.59 and as low as 7.79, with a median of 14.67.

Value investors will likely look at more than just these metrics, but the above data helps show that Winnebago Industries is likely undervalued currently. And when considering the strength of its earnings outlook, WGO sticks out at as one of the market's strongest value stocks.

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