Investors looking for stocks in the Retail - Miscellaneous sector might want to consider either Dick's Sporting Goods (DKS) or Ulta Beauty (ULTA). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.Dick's Sporting Goods has a Zacks Rank of #1 (Strong Buy), while Ulta Beauty has a Zacks Rank of #3 (Hold) right now. Investors should feel comfortable knowing that DKS likely has seen a stronger improvement to its earnings outlook than ULTA has recently. But this is only part of the picture for value investors.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.DKS currently has a forward P/E ratio of 9.51, while ULTA has a forward P/E of 86.98. We also note that DKS has a PEG ratio of 1.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ULTA currently has a PEG ratio of 7.50.Another notable valuation metric for DKS is its P/B ratio of 2.37. 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. For comparison, ULTA has a P/B of 8.58.These metrics, and several others, help DKS earn a Value grade of A, while ULTA has been given a Value grade of C.DKS sticks out from ULTA in both our Zacks Rank and Style Scores models, so value investors will likely feel that DKS is the better option 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 DICKS Sporting Goods, Inc. (DKS): Free Stock Analysis Report Ulta Beauty Inc. (ULTA): Free Stock Analysis Report To read this article on Zacks.com click here.