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.

Carrefour (CRRFY) is a stock many investors are watching right now. CRRFY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 15.16. This compares to its industry's average Forward P/E of 19.36. CRRFY's Forward P/E has been as high as 16.37 and as low as 11.25, with a median of 15.01, all within the past year.

We also note that CRRFY holds a PEG ratio of 1.41. 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. CRRFY's industry currently sports an average PEG of 3.32. Within the past year, CRRFY's PEG has been as high as 2.71 and as low as 1.07, with a median of 2.11.

Another notable valuation metric for CRRFY is its P/B ratio of 1.18. 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 attractive against its industry's average P/B of 3.05. Over the past year, CRRFY's P/B has been as high as 1.26 and as low as 0.89, with a median of 1.11.

These are only a few of the key metrics included in Carrefour's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, CRRFY looks like an impressive value stock at the moment.

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