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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

One company to watch right now is OFS Capital (OFS). OFS is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 8.64. This compares to its industry's average Forward P/E of 9.47. OFS's Forward P/E has been as high as 9.38 and as low as 6.77, with a median of 8.10, all within the past year.

We should also highlight that OFS has a P/B ratio of 0.69. 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 attractive against its industry's average P/B of 0.97. OFS's P/B has been as high as 0.91 and as low as 0.62, with a median of 0.73, over the past year.

Finally, we should also recognize that OFS has a P/CF ratio of 6.02. 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 company's current P/CF looks solid when compared to its industry's average P/CF of 8.88. Within the past 12 months, OFS's P/CF has been as high as 6.54 and as low as -12.81, with a median of -11.

These are just a handful of the figures considered in OFS Capital's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that OFS is an impressive value stock right now.

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This article originally published on Zacks Investment Research (zacks.com).

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