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.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.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 Magna (MGA). MGA is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A. The stock holds a P/E ratio of 11.49, while its industry has an average P/E of 17.21. Over the past 52 weeks, MGA's Forward P/E has been as high as 21.36 and as low as 3.92, with a median of 11.62.Another valuation metric that we should highlight is MGA's P/B ratio of 1.75. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. MGA's current P/B looks attractive when compared to its industry's average P/B of 2.41. Within the past 52 weeks, MGA's P/B has been as high as 1.75 and as low as 0.66, with a median of 1.42.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 prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. MGA has a P/S ratio of 0.58. This compares to its industry's average P/S of 0.6.These are only a few of the key metrics included in Magna'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, MGA looks like an impressive value stock at the moment.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 Magna International Inc. (MGA): Free Stock Analysis Report To read this article on Zacks.com click here.