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

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

Albertsons Companies, Inc. (ACI) is a stock many investors are watching right now. ACI is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 8.77, which compares to its industry's average of 20.43. Over the past year, ACI's Forward P/E has been as high as 10.28 and as low as 7.14, with a median of 8.02.

Another valuation metric that we should highlight is ACI's P/B ratio of 5.67. The P/B ratio is used to compare a stock's market value with 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 13.04. Over the past 12 months, ACI's P/B has been as high as 7.02 and as low as 4.17, with a median of 5.59.

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

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