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.

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.

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.

Asbury Automotive Group (ABG) is a stock many investors are watching right now. ABG is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Investors should also recognize that ABG has a P/B ratio of 1.39. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 2.29. Within the past 52 weeks, ABG's P/B has been as high as 1.63 and as low as 1.26, with a median of 1.38.

Finally, our model also underscores that ABG has a P/CF ratio of 9.88. 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. ABG's current P/CF looks attractive when compared to its industry's average P/CF of 10.07. ABG's P/CF has been as high as 11.08 and as low as 5.88, with a median of 8.71, all within the past year.

If you're looking for another solid Automotive - Retail and Whole Sales value stock, take a look at Group 1 Automotive (GPI). GPI is a # 2 (Buy) stock with a Value score of A.

Shares of Group 1 Automotive currently holds a Forward P/E ratio of 10.40, and its PEG ratio is 2.05. In comparison, its industry sports average P/E and PEG ratios of 8.27 and 1.38.

GPI's price-to-earnings ratio has been as high as 10.99 and as low as 6.51, with a median of 7.99, while its PEG ratio has been as high as 2.08 and as low as 1.29, with a median of 1.57, all within the past year.

Furthermore, Group 1 Automotive holds a P/B ratio of 1.88 and its industry's price-to-book ratio is 2.29. GPI's P/B has been as high as 1.95, as low as 1.28, with a median of 1.52 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 Asbury Automotive Group and Group 1 Automotive are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, ABG and GPI feels like a great value stock at the moment.

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