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.

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 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 stock to keep an eye on is Matson (MATX). MATX is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock holds a P/E ratio of 14.56, while its industry has an average P/E of 18.52. Over the last 12 months, MATX's Forward P/E has been as high as 16.22 and as low as 11.68, with a median of 13.71.

Investors should also recognize that MATX has a P/B ratio of 1.98. Investors use the P/B ratio to look at a stock's market value versus 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 3.42. Over the past 12 months, MATX's P/B has been as high as 2 and as low as 1.25, with a median of 1.66.

Finally, our model also underscores that MATX has a P/CF ratio of 7.85. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 13.89. Over the past 52 weeks, MATX's P/CF has been as high as 7.94 and as low as 4.20, with a median of 6.81.

These are just a handful of the figures considered in Matson'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 MATX is an impressive value stock right now.

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