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 use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.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.One company value investors might notice is LabCorp (LH). LH is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 15.18 right now. For comparison, its industry sports an average P/E of 18.55. Over the past 52 weeks, LH's Forward P/E has been as high as 16.41 and as low as 10.55, with a median of 13.35.Investors will also notice that LH has a PEG ratio of 1.44. 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. LH's PEG compares to its industry's average PEG of 1.47. Over the past 52 weeks, LH's PEG has been as high as 1.62 and as low as 1.04, with a median of 1.27.We should also highlight that LH has a P/B ratio of 2.58. 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. This stock's P/B looks solid versus its industry's average P/B of 5.76. Over the past year, LH's P/B has been as high as 2.94 and as low as 2.12, with a median of 2.54.Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. LH has a P/S ratio of 1.62. This compares to its industry's average P/S of 2.94.These figures are just a handful of the metrics value investors tend to look at, but they help show that LabCorp is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, LH feels like a great value stock at the moment. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>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 Laboratory Corporation of America Holdings (LH): Free Stock Analysis Report To read this article on Zacks.com click here.