Investors looking for stocks in the Solar sector might want to consider either Canadian Solar (CSIQ) or Enphase Energy (ENPH). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Canadian Solar and Enphase Energy are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that CSIQ's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

CSIQ currently has a forward P/E ratio of 31.02, while ENPH has a forward P/E of 33.95. We also note that CSIQ has a PEG ratio of 1.24. 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. ENPH currently has a PEG ratio of 9.51.

Another notable valuation metric for CSIQ is its P/B ratio of 0.22. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ENPH has a P/B of 10.90.

These are just a few of the metrics contributing to CSIQ's Value grade of A and ENPH's Value grade of D.

CSIQ has seen stronger estimate revision activity and sports more attractive valuation metrics than ENPH, so it seems like value investors will conclude that CSIQ is the superior option right now.

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Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report

Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report

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