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.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 to watch right now is Tanger Factory Outlet (SKT). SKT is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 7.29. This compares to its industry's average Forward P/E of 12.36. Over the last 12 months, SKT's Forward P/E has been as high as 7.61 and as low as 2.19, with a median of 4.40.Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. SKT has a P/S ratio of 2.32. This compares to its industry's average P/S of 4.99.These are only a few of the key metrics included in Tanger Factory Outlet'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, SKT 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 Tanger Factory Outlet Centers, Inc. (SKT): Free Stock Analysis Report To read this article on Zacks.com click here.