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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.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.Agco (AGCO) is a stock many investors are watching right now. AGCO is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 17.12 right now. For comparison, its industry sports an average P/E of 18.78. AGCO's Forward P/E has been as high as 22.35 and as low as 7.09, with a median of 15.57, all within the past year.Investors will also notice that AGCO has a PEG ratio of 1.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AGCO's industry has an average PEG of 2.90 right now. AGCO's PEG has been as high as 6.06 and as low as 0.98, with a median of 2.28, all within the past year.We should also highlight that AGCO has a P/B ratio of 2.38. The P/B ratio pits a stock's market value against 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 2.98. Over the past year, AGCO's P/B has been as high as 2.40 and as low as 0.96, with a median of 1.85.These figures are just a handful of the metrics value investors tend to look at, but they help show that Agco is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, AGCO 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 AGCO Corporation (AGCO): Free Stock Analysis Report To read this article on Zacks.com click here.