Investors interested in Building Products - Wood stocks are likely familiar with Boise Cascade (BCC) and Trex (TREX). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.Currently, Boise Cascade has a Zacks Rank of #2 (Buy), while Trex has a Zacks Rank of #5 (Strong Sell). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that BCC is likely seeing its earnings outlook improve to a greater extent. However, value investors will care about much more than just this.Value investors are also interested in a number of tried-and-true valuation metrics that help show when 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.BCC currently has a forward P/E ratio of 2.91, while TREX has a forward P/E of 26.15. We also note that BCC has a PEG ratio of 1.27. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. TREX currently has a PEG ratio of 7.07.Another notable valuation metric for BCC is its P/B ratio of 1.33. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, TREX has a P/B of 8.01.These metrics, and several others, help BCC earn a Value grade of A, while TREX has been given a Value grade of D.BCC sticks out from TREX in both our Zacks Rank and Style Scores models, so value investors will likely feel that BCC is the better option right now. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? In a new FREE report from Zacks' leading stock specialist, we reveal how you could profit from the internet’s next evolution. Even though the popularity of the metaverse is spreading like wildfire, investors like you can still get in on the ground floor and cash in. Don't miss your chance to get your piece of this innovative $30 trillion opportunity - FREE.>>Yes, I want to know the top metaverse stocks for 2022>>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 Boise Cascade, L.L.C. (BCC): Free Stock Analysis Report Trex Company, Inc. (TREX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research