Is Chemung Financial Corp (CHMG) Stock Undervalued Right Now?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.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 use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.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.One company value investors might notice is Chemung Financial Corp (CHMG). CHMG is currently sporting a Zacks Rank #1 (Strong Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 8.5 right now. For comparison, its industry sports an average P/E of 10.17. Over the past 52 weeks, CHMG's Forward P/E has been as high as 10.44 and as low as 7.34, with a median of 9.05. Another notable valuation metric for CHMG is its P/B ratio of 1.02. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. CHMG's current P/B looks attractive when compared to its industry's average P/B of 1.72. Within the past 52 weeks, CHMG's P/B has been as high as 1.19 and as low as 0.85, with a median of 1.06.Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. CHMG has a P/S ratio of 1.49. This compares to its industry's average P/S of 1.93.Finally, we should also recognize that CHMG has a P/CF ratio of 8.44. 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 company's current P/CF looks solid when compared to its industry's average P/CF of 15. Over the past 52 weeks, CHMG's P/CF has been as high as 10.13 and as low as 6.85, with a median of 8.24.These figures are just a handful of the metrics value investors tend to look at, but they help show that Chemung Financial Corp is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, CHMG feels like a great value stock at the moment.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant 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 Chemung Financial Corp (CHMG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks