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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 stock to keep an eye on is Veritiv (VRTV). VRTV is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value.

We also note that VRTV holds a PEG ratio of 0.42. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. VRTV's industry currently sports an average PEG of 0.61. VRTV's PEG has been as high as 0.62 and as low as 0.40, with a median of 0.51, all within the past year.

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. VRTV has a P/S ratio of 0.25. This compares to its industry's average P/S of 0.5.

Finally, investors should note that VRTV has a P/CF ratio of 6.18. 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. VRTV's current P/CF looks attractive when compared to its industry's average P/CF of 9.81. Over the past year, VRTV's P/CF has been as high as 13.80 and as low as 4.76, with a median of 8.53.

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

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