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 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.

Griffon (GFF) is a stock many investors are watching right now. GFF 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 13.48. This compares to its industry's average Forward P/E of 17.80. GFF's Forward P/E has been as high as 14.44 and as low as 7.73, with a median of 10.52, all within the past year.

Finally, investors will want to recognize that GFF has a P/CF ratio of 14.50. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 26.32. GFF's P/CF has been as high as 15.47 and as low as 5.28, with a median of 10.92, all within the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Griffon is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, GFF feels like a great value stock at the moment.

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