Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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 Konica Minolta (KNCAY). KNCAY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. KNCAY has a P/S ratio of 0.24. This compares to its industry's average P/S of 0.71.

Finally, we should also recognize that KNCAY has a P/CF ratio of 3.94. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 11.33. Within the past 12 months, KNCAY's P/CF has been as high as 4.72 and as low as -7.40, with a median of 2.89.

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

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Konica Minolta Inc. (KNCAY):Free Stock Analysis Report

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

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