While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Mr Cooper (COOP) is a stock many investors are watching right now. COOP is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 4.71, which compares to its industry's average of 7.85. Over the last 12 months, COOP's Forward P/E has been as high as 7.30 and as low as 3.68, with a median of 5.31.

Another valuation metric that we should highlight is COOP's P/B ratio of 0.64. 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 stock's P/B looks attractive against its industry's average P/B of 0.74. Over the past 12 months, COOP's P/B has been as high as 0.72 and as low as 0.10, with a median of 0.48.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. COOP has a P/S ratio of 0.76. This compares to its industry's average P/S of 1.38.

These are only a few of the key metrics included in Mr Cooper'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, COOP looks like an impressive value stock at the moment.

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