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By Billy Fisher

The markets notched big gains in the first-quarter, but even as this happened there were a number of equities trading at discounts. As we begin the second-quarter and head into another corporate earnings season, Stock Traders Daily has determined the fair values of over 1,300 equities. Here are four stocks on sale right now.

Fully Covered

Even though the health insurance provider Aetna Inc. (NYSE:AET) is trading near a 52 week high, I believe that it may still have room to run. Considering its forward P/E of 9.3 and a PEG ratio of 1.0, the stock is attractive on a valuation basis.

The company has done an exceptional job driving growth against a less than optimal economic backdrop. For the current year, EPS are expected to grow in the high single digits and revenue is projected to jump 11.1%. Our real-time trading reports can help traders implement adequate risk controls and take note of key technical indicators before piling in.

I find WellPoint Inc., (NYSE:WLP) to be an equally intriguing value play with a forward P/E of 8.3 and a price to book of 0.9. The company has been the beneficiary of lower than expected commercial medical costs and healthy gains in its medical membership base. Should these trends continue throughout the year, this stock is heading higher.

Drilling for Profits

Trading at a forward P/E of 7.3 and a price to book ratio of 1.0, Apache Corporation (NYSE:APA) has moved onto the value radar. The company's stock price underperformed in Q1, but it has a couple of factors going for it moving into Q2. Apache is coming off of another year of record production and oil prices have been fighting their way higher recently.

One insider at Apache also apparently believes that his company's stock is trading at a level that is too good to pass up. A director recently purchased approximately $750,000 worth of Apache shares. The transaction occurred at a purchase price of $74.48 per share.

Another name that I have pegged as being on sale in the commodity space is Noble Corporation (NYSE:NE). Right now, the stock is trading at a forward P/E of 8.0 and a price to book ratio of 1.2. With analysts predicting the company to grow its top line by 23.4% this year and 21.9% next year, it is unlikely that Noble shares will continue to trade at a discount for long.

Source: 4 Stocks Trading At A Discount