Investors interested in Diversified Operations stocks are likely familiar with Carlisle (CSL) and Raven Industries (RAVN). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.Currently, Carlisle has a Zacks Rank of #2 (Buy), while Raven Industries has a Zacks Rank of #3 (Hold). This means that CSL's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.CSL currently has a forward P/E ratio of 20.95, while RAVN has a forward P/E of 29.15. We also note that CSL has a PEG ratio of 1.40. 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. RAVN currently has a PEG ratio of 2.92.Another notable valuation metric for CSL is its P/B ratio of 2.86. 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. For comparison, RAVN has a P/B of 5.51.Based on these metrics and many more, CSL holds a Value grade of B, while RAVN has a Value grade of D.CSL sticks out from RAVN in both our Zacks Rank and Style Scores models, so value investors will likely feel that CSL is the better option right 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 Carlisle Companies Incorporated (CSL): Free Stock Analysis Report Raven Industries, Inc. (RAVN): Free Stock Analysis Report To read this article on Zacks.com click here.