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, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. 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.One company value investors might notice is Tri Pointe Homes (TPH). TPH is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 8.21. This compares to its industry's average Forward P/E of 11.50. Over the last 12 months, TPH's Forward P/E has been as high as 12.90 and as low as 3.84, with a median of 9.61.We also note that TPH holds a PEG ratio of 0.86. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TPH's industry currently sports an average PEG of 2.29. TPH's PEG has been as high as 1.14 and as low as 0.35, with a median of 0.83, all within the past year.Another valuation metric that we should highlight is TPH's P/B ratio of 1.19. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.27. Over the past year, TPH's P/B has been as high as 1.19 and as low as 0.39, with a median of 1.Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. TPH has a P/S ratio of 0.79. This compares to its industry's average P/S of 0.88.Finally, investors should note that TPH has a P/CF ratio of 8.11. 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. TPH's P/CF compares to its industry's average P/CF of 8.76. Over the past 52 weeks, TPH's P/CF has been as high as 10.23 and as low as 3.41, with a median of 6.93.These are only a few of the key metrics included in Tri Pointe Homes'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, TPH 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 Tri Pointe Homes Inc. (TPH): Free Stock Analysis Report To read this article on Zacks.com click here.