The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 stock to keep an eye on is Fox (FOXA). FOXA is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 12.19, while its industry has an average P/E of 23.01. Over the last 12 months, FOXA's Forward P/E has been as high as 16.98 and as low as 11.16, with a median of 13.18.

Investors should also note that FOXA holds a PEG ratio of 1.40. 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. FOXA's industry has an average PEG of 1.72 right now. Over the last 12 months, FOXA's PEG has been as high as 8.10 and as low as 0.95, with a median of 1.51.

Finally, we should also recognize that FOXA has a P/CF ratio of 10.93. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 39.40. Over the past year, FOXA's P/CF has been as high as 14.36 and as low as 8.23, with a median of 9.74.

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

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