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, value investing is easily one of the most popular ways to find great stocks in any market environment. 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 Globe Life (GL). GL is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 8.25, which compares to its industry's average of 16.23. Over the past 52 weeks, GL's Forward P/E has been as high as 11.53 and as low as 4.15, with a median of 8.27.

Another notable valuation metric for GL is its P/B ratio of 2.13. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. GL's current P/B looks attractive when compared to its industry's average P/B of 3.24. Over the past 12 months, GL's P/B has been as high as 2.69 and as low as 0.92, with a median of 2.02.

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. GL has a P/S ratio of 1.6. This compares to its industry's average P/S of 1.96.

Finally, investors should note that GL has a P/CF ratio of 6.60. 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. GL's current P/CF looks attractive when compared to its industry's average P/CF of 16.64. Over the past 52 weeks, GL's P/CF has been as high as 9.08 and as low as 3.39, with a median of 6.64.

If you're looking for another solid Financial - Miscellaneous Services value stock, take a look at Lument Finance Trust (LFT). LFT is a # 2 (Buy) stock with a Value score of A.

Furthermore, Lument Finance Trust holds a P/B ratio of 0.67 and its industry's price-to-book ratio is 3.24. LFT's P/B has been as high as 0.76, as low as 0.57, with a median of 0.69 over the past 12 months.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Globe Life and Lument Finance Trust are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, GL and LFT feels like a great value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Globe Life Inc. (GL) : Free Stock Analysis Report

Lument Finance Trust, Inc. (LFT) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research