The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

One company to watch right now is Matson (MATX). MATX is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. The stock is trading with a P/E ratio of 16.46, which compares to its industry's average of 42.25. Over the last 12 months, MATX's Forward P/E has been as high as 28.13 and as low as 12.74, with a median of 18.63.

Investors should also note that MATX holds a PEG ratio of 2.55. 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. MATX's industry currently sports an average PEG of 3.59. Within the past year, MATX's PEG has been as high as 3.39 and as low as 2.55, with a median of 3.13.

Another notable valuation metric for MATX is its P/B ratio of 3.50. 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. MATX's current P/B looks attractive when compared to its industry's average P/B of 3.94. Over the past 12 months, MATX's P/B has been as high as 3.67 and as low as 1.34, with a median of 2.06.

Finally, we should also recognize that MATX has a P/CF ratio of 9.06. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 20.68. Over the past 52 weeks, MATX's P/CF has been as high as 9.47 and as low as 4.04, with a median of 5.87.

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

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Matson, Inc. (MATX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.