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It's starting to look like a good time to value shop; there are a lot of solid companies that are finally posting solid earnings again and represent great value, observes Richard Moroney of Upside.

Dillard’s (DDS) has delivered eight straight quarters of higher same-store sales. The retailer’s operating profit margins have widened steadily during that stretch, boosted by tighter cost controls and improved inventory management.

Dillard’s, which has repurchased 34% of outstanding shares since January 2010, operates more than 300 department stores and clearance centers in 29 states.

At less than 15 times trailing earnings, shares trade 7% below their three-year average. Dillard’s looks even more attractive based on projected growth, with per-share profits expected to surge 33% to $5.78 in fiscal 2013 ending January.

Shares trade at less than 13 times that estimate, 20% below the median for S&P 1500 department stores. For fiscal 2014, the consensus projects 9% profit growth. Dillard’s is a Best Buy.

EnerSys (ENS)
This company scores in the top 10% of our research universe for both Value and Momentum. The stock trades at a discount to three-year averages based on trailing P/E (a 27% discount) and price/sales (8%).

Relative to other makers of electrical equipment in the S&P 1500, EnerSys trades at discounts of at least 40% based on P/E ratios using trailing and expected current-year earnings.

A leading maker of industrial batteries, EnerSys has delivered eight consecutive quarters of higher operating cash flow and ten quarters of sales growth. Lead prices have rebounded, potentially crimping profit margins. But EnerSys entered the September quarter with a near-record backlog.

The consensus calls for per-share profits of 87 cents for the September quarter, implying 50% growth, on 4% higher revenue. EnerSys has topped consensus profit estimates in four straight quarters. Moreover, plenty of pessimism already appears built into the stock, down 11% since the end of August. EnerSys is a Best Buy.

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