Investors looking for stocks in the Leisure and Recreation Products sector might want to consider either Academy Sports and Outdoors, Inc. (ASO) or Pool Corp. (POOL). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.Academy Sports and Outdoors, Inc. and Pool Corp. are sporting Zacks Ranks of #2 (Buy) and #4 (Sell), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that ASO is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.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.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.ASO currently has a forward P/E ratio of 5.90, while POOL has a forward P/E of 20.84. We also note that ASO has a PEG ratio of 0.64. 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. POOL currently has a PEG ratio of 2.08.Another notable valuation metric for ASO is its P/B ratio of 2.34. 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. By comparison, POOL has a P/B of 13.19.These metrics, and several others, help ASO earn a Value grade of A, while POOL has been given a Value grade of D.ASO sticks out from POOL in both our Zacks Rank and Style Scores models, so value investors will likely feel that ASO is the better option right now. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention. See them 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 Academy Sports and Outdoors, Inc. (ASO): Free Stock Analysis Report Pool Corporation (POOL): Free Stock Analysis Report To read this article on Zacks.com click here.