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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 company to watch right now is Air China (AIRYY). AIRYY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value.

Another notable valuation metric for AIRYY is its P/B ratio of 2.05. 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 5.01. Over the past 12 months, AIRYY's P/B has been as high as 2.18 and as low as 1.25, with a median of 1.59.

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. AIRYY has a P/S ratio of 0.45. This compares to its industry's average P/S of 0.58.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Air China is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, AIRYY feels like a great value stock at the moment.

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