While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Target Hospitality (TH) is a stock many investors are watching right now. TH is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 18.87, which compares to its industry's average of 21.03. TH's Forward P/E has been as high as 19.98 and as low as 6.30, with a median of 15.34, all within the past year.

Investors should also recognize that TH has a P/B ratio of 2.35. 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. This stock's P/B looks attractive against its industry's average P/B of 5.73. Over the past year, TH's P/B has been as high as 3.47 and as low as 1.86, with a median of 2.50.

Finally, our model also underscores that TH has a P/CF ratio of 4.62. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 17.43. Within the past 12 months, TH's P/CF has been as high as 5.09 and as low as 3.14, with a median of 4.36.

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

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