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.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.Toyota Motor Corporation (TM) is a stock many investors are watching right now. TM is currently sporting a Zacks Rank of #1 (Strong Buy), as well as an A grade for Value. The stock holds a P/E ratio of 10.63, while its industry has an average P/E of 17.75. Over the past 52 weeks, TM's Forward P/E has been as high as 14.97 and as low as 6.89, with a median of 12.26.Investors should also note that TM holds a PEG ratio of 1.13. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. TM's industry has an average PEG of 1.15 right now. Within the past year, TM's PEG has been as high as 4.69 and as low as 0.80, with a median of 1.73.Value investors will likely look at more than just these metrics, but the above data helps show that Toyota Motor Corporation is likely undervalued currently. And when considering the strength of its earnings outlook, TM sticks out at as one of the market's strongest value stocks.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 Toyota Motor Corporation (TM): Get Free Report To read this article on Zacks.com click here.