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.

Costamare (CMRE) is a stock many investors are watching right now. CMRE is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 5.99, while its industry has an average P/E of 8.23. Over the past year, CMRE's Forward P/E has been as high as 8.68 and as low as 4.24, with a median of 6.09.

We should also highlight that CMRE has a P/B ratio of 1. Investors use the P/B ratio to look at a stock's market value versus 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 1.06. Within the past 52 weeks, CMRE's P/B has been as high as 1.02 and as low as 0.35, with a median of 0.60.

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

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