Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. 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.

One company value investors might notice is Tilly's (TLYS). TLYS is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 9.64 right now. For comparison, its industry sports an average P/E of 15.51. TLYS's Forward P/E has been as high as 32.77 and as low as -78.88, with a median of 15.67, all within the past year.

TLYS is also sporting a PEG ratio of 0.96. 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. TLYS's industry currently sports an average PEG of 1.14. Over the last 12 months, TLYS's PEG has been as high as 3.28 and as low as -7.89, with a median of 1.57.

Investors should also recognize that TLYS has a P/B ratio of 2.54. 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 solid versus its industry's average P/B of 6. TLYS's P/B has been as high as 2.88 and as low as 1.20, with a median of 2.09, over the past year.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. TLYS has a P/S ratio of 0.66. This compares to its industry's average P/S of 0.7.

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

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