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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 OI Glass (OI). OI is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 7.63, while its industry has an average P/E of 10.12. OI's Forward P/E has been as high as 8.04 and as low as 4.53, with a median of 6.22, all within the past year.

We also note that OI holds a PEG ratio of 1.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OI's industry currently sports an average PEG of 1.65. Over the past 52 weeks, OI's PEG has been as high as 1.31 and as low as 0.31, with a median of 1.01.

We should also highlight that OI has a P/B ratio of 1.25. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.99. Over the past year, OI's P/B has been as high as 1.53 and as low as 0.94, with a median of 1.17.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. OI has a P/S ratio of 0.3. This compares to its industry's average P/S of 0.47.

Finally, investors will want to recognize that OI has a P/CF ratio of 9.75. 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 14.67. Within the past 12 months, OI's P/CF has been as high as 10.35 and as low as 2.55, with a median of 7.04.