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Are you a value investor looking for investment ideas during earnings season?

We began by screening the consumer goods industry for stocks that are rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.

We then screened for those stocks that appear undervalued relative to the Graham Number. The Graham Number is a measure of maximum fair value created by the "godfather of value investing," Benjamin Graham.

It is based on a stock's EPS and book value per share (BVPS).

Graham Number = SQRT(22.5 x TTM EPS x MRQ BVPS)

The equation assumes that P/E should not be higher than 15, and P/BV should not be higher than 1.5. Stocks trading well below their Graham Number may be undervalued.

Lastly, we filtered for those companies that are expected to report earnings in the next week.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks should be trading higher? Use this list as a starting point for your own analysis.

1. The Andersons, Inc. (ANDE): Engages in the agriculture and transportation businesses in the United States. Market cap at $864.9M, most recent closing price at $46.50. Diluted TTM earnings per share at 4.6, and a MRQ book value per share value at 31.54, implies a Graham Number fair value = sqrt(22.5*4.6*31.54) = $57.13. Based on the stock's price at $46.5, this implies a potential upside of 22.87% from current levels. The stock is currently trading 4% above its 20-day moving average, 7.4% above its 50-day moving average, and 12% above its 200-day moving average. The company is expected to report earnings on February 6th, 2013.

2. Bunge Limited (BG): Engages in the agriculture and food businesses worldwide. Market cap at $11.46B, most recent closing price at $78.38. Diluted TTM earnings per share at 5.94, and a MRQ book value per share value at 74.68, implies a Graham Number fair value = sqrt(22.5*5.94*74.68) = $99.90. Based on the stock's price at $78.38, this implies a potential upside of 27.46% from current levels. The stock is currently trading 5% above its 20-day moving average, 8% above its 50-day moving average, and 21% above its 200-day moving average. The company is expected to report earnings on February 7th, 2013.

3. Graphic Packaging Holding Company (GPK): Provides packaging solutions in the United States, Canada, Central/South America, Europe, and the Asia-Pacific. Market cap at $2.42B, most recent closing price at $7.01. Diluted TTM earnings per share at 0.92, and a MRQ book value per share value at 3.27, implies a Graham Number fair value = sqrt(22.5*0.92*3.27) = $8.23. Based on the stock's price at $7.01, this implies a potential upside of 17.37% from current levels. The stock is currently trading 4% above its 20-day moving average, 8.3% above its 50-day moving average, and 22% above its 200-day moving average. The company is expected to report earnings on February 7th, 2013.

4. Universal Corp. (UVV): Operates as a leaf tobacco merchant and processor worldwide. Market cap at $1.27B, most recent closing price at $54.0. Diluted TTM earnings per share at 5.28, and a MRQ book value per share value at 43.17, implies a Graham Number fair value = sqrt(22.5*5.28*43.17) = $71.61. Based on the stock's price at $54., this implies a potential upside of 32.62% from current levels. The stock is currently trading 5% above its 20-day moving average, 9% above its 50-day moving average, and 16% above its 200-day moving average. The company is expected to report earnings on February 4th, 2013.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 4 Rallying Consumer Stocks Reporting Earnings Next Week Undervalued By The Graham Number