Three Value Stocks to Buy Now

Despite concerns about the credit markets and the overall volatility in stock prices, there is no shortage of small-cap or large-cap names that the TheStreet.com Ratings considers attractive value stocks. These are companies that trade at a low price to book, price to sales, and/or price to earnings ratio, relative to their industry or the market as a whole.

Here are three stocks in particular -- Johnson & Johnson (JNJ Quote), Jos. A Bank Clothiers (JOSB Quote) and Hewlett-Packard (HPQ Quote) -- that are currently rated a buy by TheStreet.com Rating's quantitative model and have either already begun to demonstrate improving fundamentals or are likely to show improvement over the next two to three quarters.

Johnson & Johnson

Johnson & Johnson has been under pressure from concerns about new-drug development and the upcoming presidential elections, but it still merits a buy rating from our quantitative model. In addition, based on where the stock has historically traded, we think the current price provides a great entry point.

The pharmaceutical giant has a number of things working against it: the patents for some of its biggest-selling drugs are set to expire, sales of its drug-coated stents have been lackluster, and health insurance reimbursement for its Procrit anemia drug has been limited because of safety concerns.

More generally, it's becoming tougher to get drugs approved by the Food and Drug Administration or covered by Medicare and Medicaid, and the upcoming presidential elections are bringing issues such as drug pricing and generic substitutes to the fore.