Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

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.

Ryanair (RYAAY) is a stock many investors are watching right now. RYAAY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 12.71, while its industry has an average P/E of 17.41. Over the past 52 weeks, RYAAY's Forward P/E has been as high as 15.78 and as low as 8.35, with a median of 12.24.

Investors should also recognize that RYAAY has a P/B ratio of 2.89. 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. RYAAY's current P/B looks attractive when compared to its industry's average P/B of 5.08. Over the past year, RYAAY's P/B has been as high as 4.11 and as low as 2.55, with a median of 3.26.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Ryanair is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, RYAAY feels like a great value stock at the moment.

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

Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research