Value investing is easily one of the most popular ways to find great stocks in any market environment. After all, who wouldn’t want to find stocks that are either flying under the radar and are compelling buys, or offer up tantalizing discounts when compared to fair value?One way to find these companies is by looking at several key metrics and financial ratios, many of which are crucial in the value stock selection process. Let’s put Knight-Swift Transportation Holdings Inc. KNX stock into this equation and find out if it is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks:PE RatioA key metric that value investors always look at is the Price to Earnings Ratio, or PE for short. This shows us how much investors are willing to pay for each dollar of earnings in a given stock, and is easily one of the most popular financial ratios in the world. The best use of the PE ratio is to compare the stock’s current PE ratio with: a) where this ratio has been in the past; b) how it compares to the average for the industry/sector; and c) how it compares to the market as a whole.On this front, Knight-Swift has a trailing twelve months PE ratio of 14.64, as you can see in the chart below: Image Source: Zacks Investment ResearchThis level actually compares pretty favorably with the market at large, as the PE for the S&P 500 stands at about 25.30. If we focus on the long-term PE trend, Knight-Swift’s current PE level puts it below its midpoint over the past five years. Moreover, the current level is fairly below the highs for this stock, suggesting it might be a good entry point. Image Source: Zacks Investment ResearchFurther, the stock’s PE also compares favorably with the industry’s trailing twelve months PE ratio, which stands at 26.32. At the very least, this indicates that the stock is relatively undervalued right now, compared to its peers. Image Source: Zacks Investment ResearchWe should also point out that Knight-Swift has a forward PE ratio (price relative to this year’s earnings) of just 13.04, so it is fair to say that a slightly more value-oriented path may be ahead for Knight-Swift stock in the near term too.P/S RatioAnother key metric to note is the Price/Sales ratio. This approach compares a given stock’s price to its total sales, where a lower reading is generally considered better. Some people like this metric more than other value-focused ones because it looks at sales, something that is far harder to manipulate with accounting tricks than earnings.Right now, Knight-Swift has a P/S ratio of about 1.72. This is lower than the S&P 500 average, which comes in at 5.05 right now. Also, as we can see in the chart below, this is well below the highs for this stock in particular over the past few years. Image Source: Zacks Investment ResearchAs we can see, the stock is trading near its median value for the time period from a P/S metric. This does not provide us with a conclusive direction as to the relative valuation of the stock in comparison to its historical trend.Broad Value OutlookIn aggregate, Knight-Swift currently has a Zacks Value Style Score of B, putting it into the top 40% of all stocks we cover from this look. This makes Knight-Swift a solid choice for value investors, and some of its other key metrics make this pretty clear too.For example, the PEG ratio for Knight-Swift is 0.87, a level that is lower than the industry average of 1.01. The PEG ratio is a modified PE ratio that takes into account the stock’s earnings growth rate. Clearly, KNX is a solid choice on the value front from multiple angles.What About the Stock Overall?Though Knight-Swift might be a good choice for value investors, there are plenty of other factors to consider before investing in this name. In particular, it is worth noting that the company has a Growth grade of C and a Momentum score of A. This gives KNX a Zacks VGM score—or its overarching fundamental grade—of B. (You can read more about the Zacks Style Scores here >>)Meanwhile, the company’s recent earnings estimates have been encouraging. The current quarter has seen four estimates go higher in the past sixty days compared to none lower, while the full year estimate has seen eight upward and zero downward revisions in the same time period.As a result, the current quarter consensus estimate has risen by 9.3% in the past two months, while the full year estimate has increased 7.9%. You can see the consensus estimate trend and recent price action for the stock in the chart below:KnightSwift Transportation Holdings Inc. Price and Consensus KnightSwift Transportation Holdings Inc. price-consensus-chart | KnightSwift Transportation Holdings Inc. QuoteThis favorable trend is why the stock has a Zacks Rank #2 (Buy) and why we are looking for outperformance from the company in the near term.Bottom LineKnight-Swift is an inspired choice for value investors, as it is hard to beat its incredible lineup of statistics on this front. With a formidable industry rank (among the Top 19%) and strong Zacks Rank, Knight-Swift looks like a strong value contender. In fact, over the past one year, the industry has clearly outperformed the broader market, as you can see below: Image Source: Zacks Investment ResearchSo, it might pay for value investors to delve deeper into the company’s prospects, as fundamentals indicate that this stock could be a compelling pick. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs Now >>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 KnightSwift Transportation Holdings Inc. (KNX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research