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, value investing is easily one of the most popular ways to find great stocks in any market environment. 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 Phibro Animal Health (PAHC). PAHC is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock holds a P/E ratio of 10.76, while its industry has an average P/E of 21.63. Over the past year, PAHC's Forward P/E has been as high as 15.21 and as low as 10.20, with a median of 12.76.

Investors should also recognize that PAHC has a P/B ratio of 3.62. 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 company's current P/B looks solid when compared to its industry's average P/B of 8.15. PAHC's P/B has been as high as 4.30 and as low as 1.81, with a median of 3.30, over the past year.

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. PAHC has a P/S ratio of 0.75. This compares to its industry's average P/S of 1.36.

Finally, we should also recognize that PAHC has a P/CF ratio of 15.04. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. PAHC's current P/CF looks attractive when compared to its industry's average P/CF of 39.04. PAHC's P/CF has been as high as 22.96 and as low as 9.68, with a median of 16.12, all within the past year.

These are only a few of the key metrics included in Phibro Animal Health's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, PAHC looks like an impressive value stock at the moment.

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This article originally published on Zacks Investment Research (zacks.com).

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