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.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

Impala Platinum Holdings Ltd. (IMPUY) is a stock many investors are watching right now. IMPUY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 3.63, which compares to its industry's average of 8.10. Over the past year, IMPUY's Forward P/E has been as high as 8.80 and as low as 2.94, with a median of 4.16.

IMPUY is also sporting a PEG ratio of 0.52. 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. IMPUY's industry currently sports an average PEG of 0.81. Over the last 12 months, IMPUY's PEG has been as high as 1.11 and as low as 0.08, with a median of 0.12.

Another notable valuation metric for IMPUY is its P/B ratio of 2.67. 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. This stock's P/B looks attractive against its industry's average P/B of 3.34. Over the past year, IMPUY's P/B has been as high as 3.19 and as low as 1.25, with a median of 2.09.

These are just a handful of the figures considered in Impala Platinum Holdings Ltd.'s great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that IMPUY is an impressive value stock right now.

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