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

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 ARKO (ARKO). ARKO is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 10.62 right now. For comparison, its industry sports an average P/E of 17.79. Over the past year, ARKO's Forward P/E has been as high as 74.25 and as low as 10.53, with a median of 24.25.

Another valuation metric that we should highlight is ARKO's P/B ratio of 2.41. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 4.11. Over the past 12 months, ARKO's P/B has been as high as 3.65 and as low as 1.86, with a median of 3.15.

Newell Brands (NWL) may be another strong Consumer Products - Staples stock to add to your shortlist. NWL is a # 2 (Buy) stock with a Value grade of A.

Shares of Newell Brands currently holds a Forward P/E ratio of 8.62, and its PEG ratio is 0.96. In comparison, its industry sports average P/E and PEG ratios of 17.79 and 1.44.

NWL's price-to-earnings ratio has been as high as 13.42 and as low as 6.58, with a median of 10.67, while its PEG ratio has been as high as 1.49 and as low as 0.96, with a median of 1.33, all within the past year.

Newell Brands also has a P/B ratio of 0.82 compared to its industry's price-to-book ratio of 4.11. Over the past year, its P/B ratio has been as high as 1.39, as low as 0.82, with a median of 1.06.

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

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.