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.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.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.Ralph Lauren (RL) is a stock many investors are watching right now. RL is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 12.57, which compares to its industry's average of 22.29. Over the past year, RL's Forward P/E has been as high as 18.32 and as low as 10.45, with a median of 14.03.Investors will also notice that RL has a PEG ratio of 1.31. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. RL's PEG compares to its industry's average PEG of 1.65. RL's PEG has been as high as 4.42 and as low as 1.11, with a median of 1.63, all within the past year.Another valuation metric that we should highlight is RL's P/B ratio of 2.56. The P/B ratio pits a stock's market value against 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 7.13. Over the past year, RL's P/B has been as high as 3.19 and as low as 2.16, with a median of 2.80.Finally, our model also underscores that RL has a P/CF ratio of 8.77. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. RL's current P/CF looks attractive when compared to its industry's average P/CF of 26.30. Over the past year, RL's P/CF has been as high as 14.86 and as low as 8.23, with a median of 11.82.These are just a handful of the figures considered in Ralph Lauren's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that RL is an impressive value stock right now.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 Ralph Lauren Corporation (RL): Free Stock Analysis Report To read this article on Zacks.com click here.