The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 company value investors might notice is South32 (SOUHY). SOUHY is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 10.2 right now. For comparison, its industry sports an average P/E of 16.44. Over the last 12 months, SOUHY's Forward P/E has been as high as 15.96 and as low as 8.25, with a median of 10.93.

Another valuation metric that we should highlight is SOUHY's P/B ratio of 0.87. 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 company's current P/B looks solid when compared to its industry's average P/B of 1.67. Within the past 52 weeks, SOUHY's P/B has been as high as 1.31 and as low as 0.74, with a median of 1.04.

Value investors will likely look at more than just these metrics, but the above data helps show that South32 is likely undervalued currently. And when considering the strength of its earnings outlook, SOUHY sticks out as one of the market's strongest value stocks.

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South32 Ltd. (SOUHY):Free Stock Analysis Report

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

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