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Do you prefer stocks that appear to be trading below their fair value? If you consider yourself a value investor, here are some ideas you may find interesting.

We began by finding stocks with recently positive trading performance, trading within 3% of their 52-week highs. We then screened for those that appear undervalued relative to their EPS trends.

Based on the theoretical assumption that P/E is equal to a constant k, it follows that increases in EPS should be matched by proportionate increases in price. When they don't match up, a mispricing may have occurred. That is, when earnings rise faster than price, the stock may be undervalued.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks have more value to price in? Use this list as a starting point for your own analysis.

1. Amgen Inc. (AMGN): Develops, manufactures, and markets human therapeutics based on advances in cellular and molecular biology for grievous illnesses primarily in the United States, Europe, and Canada. The stock is currently trading 2.37% below its 52-week high. The EPS estimate for the company's current year increased from 6.03 to 6.05 over the last 30 days, an increase of 0.33%. This increase came during a time when the stock price changed by -2.73% (from 69.12 to 67.23 over the last 30 days).

2. CBS Corporation (CBS): Operates as a mass media company in the United States and internationally. The stock is currently trading 1.15% below its 52-week high. The EPS estimate for the company's current year increased from 2.28 to 2.34 over the last 30 days, an increase of 2.63%. This increase came during a time when the stock price changed by 0.81% (from 29.63 to 29.87 over the last 30 days).

3. Enbridge Inc. (ENB): Engages in the transportation and distribution of crude oil and natural gas primarily in Canada and the United States. The stock is currently trading 1.95% below its 52-week high. The EPS estimate for the company's current year increased from 1.63 to 1.66 over the last 30 days, an increase of 1.84%. This increase came during a time when the stock price changed by -0.03% (from 38.6 to 38.59 over the last 30 days).

4. Enterprise Products Partners LP (EPD): Provides midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products, and petrochemicals in North America. The stock is currently trading 2.59% below its 52-week high. The EPS estimate for the company's current year increased from 2.3 to 2.42 over the last 30 days, an increase of 5.22%. This increase came during a time when the stock price changed by 4.09% (from 50.39 to 52.45 over the last 30 days).

5. Goodrich Corp. (GR): Supplies aerospace components, systems, and services primarily in the United States, Canada, Europe, and the Asia Pacific. The stock is currently trading 0.12% below its 52-week high. The EPS estimate for the company's current year increased from 6.87 to 6.96 over the last 30 days, an increase of 1.31%. This increase came during a time when the stock price changed by 0.39% (from 125.54 to 126.03 over the last 30 days).

6. GlaxoSmithKline plc (GSK): Engages in the discovery, development, manufacture, and marketing of pharmaceutical products, over the counter medicines, and health-related consumer products worldwide. The stock is currently trading 2.18% below its 52-week high. The EPS estimate for the company's current year increased from 3.43 to 3.7 over the last 30 days, an increase of 7.87%. This increase came during a time when the stock price changed by -0.75% (from 45.09 to 44.75 over the last 30 days).

7. Liberty Interactive, Inc. (LINTA): Engages in the live-action theatrical film production and distribution, home video distribution, live-action television production and distribution, and theatrical and non-theatrical animation businesses primarily in the United States. The stock is currently trading 1.68% below its 52-week high. The EPS estimate for the company's current year increased from 0.73 to 0.76 over the last 30 days, an increase of 4.11%. This increase came during a time when the stock price changed by 2.42% (from 18.17 to 18.61 over the last 30 days).

8. QUALCOMM Incorporated (QCOM): Engages in the development, design, manufacture, and marketing of digital wireless telecommunications products and services. The stock is currently trading 0.12% below its 52-week high. The EPS estimate for the company's current year increased from 3.6 to 3.75 over the last 30 days, an increase of 4.17%. This increase came during a time when the stock price changed by 1.7% (from 61.07 to 62.11 over the last 30 days).

9. Simon Property Group Inc. (SPG): Engages in investment, ownership, and management of properties. The stock is currently trading 2.14% below its 52-week high. The EPS estimate for the company's current year increased from 7.27 to 7.32 over the last 30 days, an increase of 0.69%. This increase came during a time when the stock price changed by 0.65% (from 137.52 to 138.41 over the last 30 days).

10. Taiwan Semiconductor Manufacturing Co. Ltd. (TSM): Engages in the computer-aided designing, manufacturing, packaging, testing, and selling integrated circuits and other semiconductor devices; and manufacturing masks. The stock is currently trading 1.62% below its 52-week high. The EPS estimate for the company's current year increased from 0.73 to 0.87 over the last 30 days, an increase of 19.18%. This increase came during a time when the stock price changed by 2.43% (from 13.99 to 14.33 over the last 30 days).

*EPS data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 10 Stocks Trading Near Highs Undervalued By EPS Trends