The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.One stock to keep an eye on is Rent-A-Center (RCII). RCII is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 8.89, while its industry has an average P/E of 10.02. Over the last 12 months, RCII's Forward P/E has been as high as 14.94 and as low as 8.44, with a median of 9.94.Another notable valuation metric for RCII is its P/B ratio of 4.83. 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. RCII's current P/B looks attractive when compared to its industry's average P/B of 6.37. Within the past 52 weeks, RCII's P/B has been as high as 5.88 and as low as 2.99, with a median of 4.61.Finally, we should also recognize that RCII has a P/CF ratio of 3.39. 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. RCII's P/CF compares to its industry's average P/CF of 6.34. Over the past 52 weeks, RCII's P/CF has been as high as 4.41 and as low as 1.86, with a median of 3.22.These are only a few of the key metrics included in Rent-A-Center'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, RCII looks like an impressive value stock at the moment. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs 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 RentACenter, Inc. (RCII): Free Stock Analysis Report To read this article on Zacks.com click here.