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 use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

Accel Entertainment (ACEL) is a stock many investors are watching right now. ACEL is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 12.19 right now. For comparison, its industry sports an average P/E of 28.66. Over the past 52 weeks, ACEL's Forward P/E has been as high as 16.73 and as low as 10.93, with a median of 14.03.

We should also highlight that ACEL has a P/B ratio of 4.08. The P/B ratio is used to compare a stock's market value with 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 11.34. Within the past 52 weeks, ACEL's P/B has been as high as 5.45 and as low as 4.08, with a median of 4.63.

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. ACEL has a P/S ratio of 0.7. This compares to its industry's average P/S of 1.08.

Finally, we should also recognize that ACEL has a P/CF ratio of 7.89. 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 stock's P/CF looks attractive against its industry's average P/CF of 24.10. Over the past 52 weeks, ACEL's P/CF has been as high as 9.76 and as low as 6.55, with a median of 8.60.

Value investors will likely look at more than just these metrics, but the above data helps show that Accel Entertainment is likely undervalued currently. And when considering the strength of its earnings outlook, ACEL sticks out at as one of the market's strongest value stocks.

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