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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. 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 to watch right now is Unum Group (UNM). UNM is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 7.92. This compares to its industry's average Forward P/E of 12.49. Over the past 52 weeks, UNM's Forward P/E has been as high as 8.63 and as low as 5.73, with a median of 6.27.

Investors should also note that UNM holds a PEG ratio of 0.97. 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. UNM's industry has an average PEG of 1.35 right now. UNM's PEG has been as high as 1.27 and as low as 0.72, with a median of 0.91, all within the past year.

We should also highlight that UNM has a P/B ratio of 1.20. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. UNM's current P/B looks attractive when compared to its industry's average P/B of 1.89. Over the past year, UNM's P/B has been as high as 1.29 and as low as 0.88, with a median of 0.98.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. UNM has a P/S ratio of 1.03. This compares to its industry's average P/S of 1.41.

Finally, our model also underscores that UNM has a P/CF ratio of 7.27. 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. UNM's P/CF compares to its industry's average P/CF of 10.31. Over the past year, UNM's P/CF has been as high as 7.91 and as low as 5.96, with a median of 7.11.

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

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