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.

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 rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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 company value investors might notice is H&R Block (HRB). HRB is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 11.61, which compares to its industry's average of 11.68. Over the last 12 months, HRB's Forward P/E has been as high as 13.96 and as low as 9.44, with a median of 10.72.

HRB is also sporting a PEG ratio of 0.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HRB's industry currently sports an average PEG of 1.04. Over the last 12 months, HRB's PEG has been as high as 1.12 and as low as 0.76, with a median of 0.86.

Finally, investors should note that HRB has a P/CF ratio of 11.87. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 14.66. Within the past 12 months, HRB's P/CF has been as high as 13.17 and as low as 8.59, with a median of 9.76.

These are only a few of the key metrics included in H&R Block'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, HRB looks like an impressive value stock at the moment.

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