Many investors like to look for value in stocks, but this can be very tough to define. There is great debate regarding which metrics are the best to focus on in this regard, and which are not really quality indicators of future performance. Fortunately, with our new style score system we have identified the key statistics to pay close attention to and thus which stocks might be the best for value investors in the near term.This method discovered several great candidates for value-oriented investors, but today let’s focus on FedEx Corporation FDX as this stock is looking especially impressive right now. And while there are numerous reasons why this is the case, we have highlighted three of the most vital reasons for FDX’s status as a solid value stock below:PEG Ratio for FDXWhile earnings are definitely important, it is vital to know how much you are paying for the growth of earnings as well. One can easily do that with the PEG ratio as this metric looks to show investors how much they are paying for each unit of earnings growth.FDX manages to impress on this front as well, as the company’s PEG is just 1.16, suggesting that FedEx is trading as a relative bargain right now. This is particularly the case when you compare this PEG to the industry, as the broader segment has an average PEG of 1.49 in comparison.Price/Cash Flow for FedEx StockAn often overlooked ratio that can still be a great indicator of value is the price/cash flow metric. This reading is preferred by some since it avoids amortization and depreciation concerns and can give a more accurate picture of the financial health in a business.The P/CF ratio for FDX comes in at 9.07, and since investors are generally looking for a reading under 20 here, this is pretty good news. Meanwhile, we should also point out that the industry average for this metric is 10.36, so FedEx has its peers beat in this regard too.FDX Earnings Estimate Revisions Moving in the Right DirectionThe solid value ratios outlined in the preceding paragraphs might be enough for some investors, but we should also note that the earnings estimate revisions have been trending in a positive direction as well. Analysts who follow FDX stock have been raising their estimates for the company lately, meaning that the EPS picture is looking a bit more favorably for FedEx now.Over the past 60 days, 12 earnings estimates have gone higher compared to none lower for the full year, while we are also seeing a ratio of 8:3 in terms up:down revisions for the next year time frame too. These revisions have helped to boost the consensus estimate as 60 days ago FDX was expected to post earnings of $10.56 per share for the full year though today it looks to have EPS of $10.78 for the full year.Bottom LineFor the reasons detailed above, investors shouldn’t be surprised to read that we have FDX as a stock with a Value Score of ‘B’ and a Zacks Rank #2 (Buy). So if you are a value investor, definitely keep FDX on your short list as this looks be a stock that is very well-positioned for gains in the near term.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 >> 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 FEDEX CORP (FDX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research