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 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 stock to keep an eye on is Internet Initiative Japan (IIJIY). IIJIY is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 24.11 right now. For comparison, its industry sports an average P/E of 36.80. Over the past year, IIJIY's Forward P/E has been as high as 40.87 and as low as 23.06, with a median of 27.96.Another valuation metric that we should highlight is IIJIY's P/B ratio of 2.91. 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 5.62. IIJIY's P/B has been as high as 3.05 and as low as 1.93, with a median of 2.42, over the past year.Finally, we should also recognize that IIJIY has a P/CF ratio of 7.19. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. IIJIY's P/CF compares to its industry's average P/CF of 28.29. Over the past 52 weeks, IIJIY's P/CF has been as high as 7.53 and as low as 4.87, with a median of 6.14.These are just a handful of the figures considered in Internet Initiative Japan'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 IIJIY 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 Internet Initiative Japan, Inc. (IIJIY): Get Free Report To read this article on Zacks.com click here.