Investors interested in Medical - Outpatient and Home Healthcare stocks are likely familiar with The Pennant Group, Inc. (PNTG) and Chemed (CHE). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Currently, The Pennant Group, Inc. has a Zacks Rank of #2 (Buy), while Chemed has a Zacks Rank of #3 (Hold). This means that PNTG's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. 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.PNTG currently has a forward P/E ratio of 17.52, while CHE has a forward P/E of 26.51. We also note that PNTG has a PEG ratio of 1.35. 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. CHE currently has a PEG ratio of 3.82.Another notable valuation metric for PNTG is its P/B ratio of 2.53. 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, CHE has a P/B of 10.72.These are just a few of the metrics contributing to PNTG's Value grade of A and CHE's Value grade of C.PNTG stands above CHE thanks to its solid earnings outlook, and based on these valuation figures, we also feel that PNTG is the superior value option right now. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 The Pennant Group, Inc. (PNTG): Free Stock Analysis Report Chemed Corporation (CHE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research