Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore 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.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is ABM Industries (ABM). ABM is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 13.60, while its industry has an average P/E of 32.79. Over the last 12 months, ABM's Forward P/E has been as high as 15.99 and as low as 11.73, with a median of 13.84.

We also note that ABM holds a PEG ratio of 2.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABM's industry currently sports an average PEG of 5.32. Over the last 12 months, ABM's PEG has been as high as 2.96 and as low as 2.60, with a median of 2.64.

Finally, our model also underscores that ABM has a P/CF ratio of 17.12. 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 37.94. ABM's P/CF has been as high as 19.63 and as low as 6.79, with a median of 8.89, all within the past year.

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

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