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.

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 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 value investors might notice is Bavarian Nordic (BVNRY). BVNRY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Another valuation metric that we should highlight is BVNRY's P/B ratio of 1.90. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 4.02. Over the past year, BVNRY's P/B has been as high as 2.17 and as low as 1.04, with a median of 1.27.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. BVNRY has a P/S ratio of 3.18. This compares to its industry's average P/S of 6.55.

Finally, we should also recognize that BVNRY has a P/CF ratio of 10.73. 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. BVNRY's current P/CF looks attractive when compared to its industry's average P/CF of 16.33. Within the past 12 months, BVNRY's P/CF has been as high as 12.27 and as low as 4.53, with a median of 6.11.

Value investors will likely look at more than just these metrics, but the above data helps show that Bavarian Nordic is likely undervalued currently. And when considering the strength of its earnings outlook, BVNRY sticks out at as one of the market's strongest value stocks.

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