Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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.

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.

One company value investors might notice is Sportsman's Warehouse (SPWH). SPWH is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with P/E ratio of 8.66 right now. For comparison, its industry sports an average P/E of 18.06. SPWH's Forward P/E has been as high as 20.99 and as low as 8.50, with a median of 14.61, all within the past year.

Another notable valuation metric for SPWH is its P/B ratio of 3.60. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. SPWH's current P/B looks attractive when compared to its industry's average P/B of 8.54. SPWH's P/B has been as high as 6.74 and as low as 2.90, with a median of 3.73, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. SPWH has a P/S ratio of 0.51. This compares to its industry's average P/S of 0.8.

These are just a handful of the figures considered in Sportsman's Warehouse's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that SPWH is an impressive value stock right now.

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