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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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 value investors might notice is Daikin Industries (DKILY). DKILY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 19.55. This compares to its industry's average Forward P/E of 21.83. Over the last 12 months, DKILY's Forward P/E has been as high as 26.69 and as low as 18.20, with a median of 23.22.

Another valuation metric that we should highlight is DKILY's P/B ratio of 2.14. The P/B ratio pits a stock's market value against 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 3.65. DKILY's P/B has been as high as 2.91 and as low as 1.95, with a median of 2.46, over the past year.

These are only a few of the key metrics included in Daikin Industries'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, DKILY looks like an impressive value stock at the moment.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Daikin Industries (DKILY):Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research