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.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.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.Louisiana-Pacific (LPX) is a stock many investors are watching right now. LPX is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 6.27 right now. For comparison, its industry sports an average P/E of 15.41. Over the last 12 months, LPX's Forward P/E has been as high as 25.16 and as low as 5.80, with a median of 10.66.Finally, investors should note that LPX has a P/CF ratio of 6.92. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. LPX's P/CF compares to its industry's average P/CF of 19.54. Within the past 12 months, LPX's P/CF has been as high as 28.37 and as low as 6.60, with a median of 9.74.Value investors will likely look at more than just these metrics, but the above data helps show that Louisiana-Pacific is likely undervalued currently. And when considering the strength of its earnings outlook, LPX sticks out at as one of the market's strongest value stocks. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks 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 LouisianaPacific Corporation (LPX): Free Stock Analysis Report To read this article on Zacks.com click here.