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Investors interested in Automotive - Domestic stocks are likely familiar with General Motors (GM) and Fox Factory Holding (FOXF). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

General Motors has a Zacks Rank of #2 (Buy), while Fox Factory Holding has a Zacks Rank of #3 (Hold) right now. Investors should feel comfortable knowing that GM likely has seen a stronger improvement to its earnings outlook than FOXF has recently. However, value investors will care about much more than just this.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

GM currently has a forward P/E ratio of 4.80, while FOXF has a forward P/E of 18.45. We also note that GM has a PEG ratio of 0.53. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. FOXF currently has a PEG ratio of 3.76.

Another notable valuation metric for GM is its P/B ratio of 0.73. 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. By comparison, FOXF has a P/B of 1.55.

These are just a few of the metrics contributing to GM's Value grade of A and FOXF's Value grade of C.

GM sticks out from FOXF in both our Zacks Rank and Style Scores models, so value investors will likely feel that GM is the better option right now.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.