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.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One company to watch right now is Atlanticus (ATLC). ATLC is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock holds a P/E ratio of 8, while its industry has an average P/E of 14.12. Over the past 52 weeks, ATLC's Forward P/E has been as high as 12.46 and as low as 4.40, with a median of 6.75.

Another valuation metric that we should highlight is ATLC's P/B ratio of 1.62. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. ATLC's current P/B looks attractive when compared to its industry's average P/B of 2.93. Over the past year, ATLC's P/B has been as high as 2.08 and as low as 0.84, with a median of 1.21.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. ATLC has a P/S ratio of 0.6. This compares to its industry's average P/S of 1.57.

Finally, our model also underscores that ATLC has a P/CF ratio of 6.05. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. ATLC's current P/CF looks attractive when compared to its industry's average P/CF of 13.65. Within the past 12 months, ATLC's P/CF has been as high as 9.86 and as low as 3.71, with a median of 5.51.

XP (XP) may be another strong Financial - Miscellaneous Services stock to add to your shortlist. XP is a # 1 (Strong Buy) stock with a Value grade of A.

Shares of XP are currently trading at a forward earnings multiple of 8.30 and a PEG ratio of 0.59 compared to its industry's P/E and PEG ratios of 14.12 and 0.91, respectively.

Over the last 12 months, XP's P/E has been as high as 12.21, as low as 1.97, with a median of 9.59, and its PEG ratio has been as high as 0.85, as low as 0.16, with a median of 0.71.

XP sports a P/B ratio of 2.06 as well; this compares to its industry's price-to-book ratio of 2.93. In the past 52 weeks, XP's P/B has been as high as 2.99, as low as 1.63, with a median of 2.40.

These are only a few of the key metrics included in Atlanticus and XP strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, ATLC and XP look like an impressive value stock at the moment.

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

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