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.

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 fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One stock to keep an eye on is CNB Financial (CCNE). CCNE is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 8.12. This compares to its industry's average Forward P/E of 8.73. Over the last 12 months, CCNE's Forward P/E has been as high as 9.89 and as low as 5.42, with a median of 7.39.

We should also highlight that CCNE has a P/B ratio of 0.82. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. CCNE's current P/B looks attractive when compared to its industry's average P/B of 1.24. CCNE's P/B has been as high as 0.99 and as low as 0.72, with a median of 0.81, over the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by 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. CCNE has a P/S ratio of 1.26. This compares to its industry's average P/S of 1.62.

Finally, investors should note that CCNE has a P/CF ratio of 6.64. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. CCNE's current P/CF looks attractive when compared to its industry's average P/CF of 11.18. Over the past 52 weeks, CCNE's P/CF has been as high as 7.68 and as low as 5.21, with a median of 6.03.

These are just a handful of the figures considered in CNB Financial's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that CCNE is an impressive value stock right now.

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