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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

PC Connection (CNXN) is a stock many investors are watching right now. CNXN is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock holds a P/E ratio of 18.68, while its industry has an average P/E of 19.16. CNXN's Forward P/E has been as high as 21.07 and as low as 15.13, with a median of 18.30, all within the past year.

We also note that CNXN holds a PEG ratio of 1.87. 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. CNXN's PEG compares to its industry's average PEG of 1.92. Over the last 12 months, CNXN's PEG has been as high as 2.11 and as low as 1.52, with a median of 1.84.

We should also highlight that CNXN has a P/B ratio of 2.13. 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 solid versus its industry's average P/B of 2.19. Over the past 12 months, CNXN's P/B has been as high as 2.26 and as low as 1.68, with a median of 2.01.

Finally, we should also recognize that CNXN has a P/CF ratio of 19.88. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 20.40. Within the past 12 months, CNXN's P/CF has been as high as 21.04 and as low as 15.24, with a median of 18.49.

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

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