Investors interested in stocks from the Electronics - Miscellaneous Products sector have probably already heard of Flex (FLEX) and Carrier Global (CARR). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Right now, Flex is sporting a Zacks Rank of #2 (Buy), while Carrier Global has a Zacks Rank of #4 (Sell). This means that FLEX's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

FLEX currently has a forward P/E ratio of 15.86, while CARR has a forward P/E of 22.91. We also note that FLEX has a PEG ratio of 2.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CARR currently has a PEG ratio of 2.19.

Another notable valuation metric for FLEX is its P/B ratio of 3.01. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CARR has a P/B of 4.02.

These metrics, and several others, help FLEX earn a Value grade of A, while CARR has been given a Value grade of D.

FLEX sticks out from CARR in both our Zacks Rank and Style Scores models, so value investors will likely feel that FLEX is the better option right now.

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Flex Ltd. (FLEX) : Free Stock Analysis Report

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