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.

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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 Comstock Resources (CRK). CRK is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock holds a P/E ratio of 6.17, while its industry has an average P/E of 9.07. Over the past year, CRK's Forward P/E has been as high as 9.55 and as low as 3.93, with a median of 7.05.

Another valuation metric that we should highlight is CRK's P/B ratio of 2.30. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. CRK's current P/B looks attractive when compared to its industry's average P/B of 2.77. Over the past 12 months, CRK's P/B has been as high as 2.68 and as low as 0.80, with a median of 1.13.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. CRK has a P/S ratio of 1.89. This compares to its industry's average P/S of 3.18.

Finally, our model also underscores that CRK has a P/CF ratio of 20. 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 company's current P/CF looks solid when compared to its industry's average P/CF of 30.66. Over the past 52 weeks, CRK's P/CF has been as high as 23.27 and as low as 2.62, with a median of 5.30.

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

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