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 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 Deutsche Telekom (DTEGY). DTEGY is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock is trading with a P/E ratio of 13.58, which compares to its industry's average of 16.62. Over the last 12 months, DTEGY's Forward P/E has been as high as 13.58 and as low as 10.59, with a median of 12.19.

Investors should also note that DTEGY holds a PEG ratio of 0.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. DTEGY's PEG compares to its industry's average PEG of 1.83. Within the past year, DTEGY's PEG has been as high as 2.25 and as low as 0.88, with a median of 1.43.

Another valuation metric that we should highlight is DTEGY's P/B ratio of 1.40. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.45. Within the past 52 weeks, DTEGY's P/B has been as high as 1.40 and as low as 0.96, with a median of 1.19.

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

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Deutsche Telekom AG (DTEGY) : Free Stock Analysis Report