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Mid-cap stocks provide a unique investment opportunity. After all, mid caps by definition still have room to grow to join the ranks of their larger cap peers. Today, we screened for mid caps that look undervalued from a price-multiple perspective, yet also have strong projected growth on the horizon. We think you'll find the list we came up with rather interesting.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. The 5-Year Expected EPS Growth Rate is a long term annual growth estimate, where the growth projections are made by analysts, the company or other credible sources.

The Price/Sales ratio is a price-multiple valuation metric used to help identify if a firm is cheap by its twelve month trailing sales numbers. In the most basic terms it let's an investor know how much the investment community is willing to pay for every dollars worth of sales. A firm with a P/S ratio of one or lower would be viewed as cheap because investors are paying $1 or less for every dollars worth of a firm's sales. On the other hand, a firm is generally considered to be expensive when the P/S ratio is above three. These are general guidelines used by the investment community not hard rules to be clear. Price/Sales Ratio = Current Stock Price/Revenue (sales) per Share

The forward P/E is a price multiple valuation metric, which is similar to the current P/E ratio, except that it uses the forecasted earnings instead. While this number might not be as accurate because it uses "forecasted" numbers, it does offer the benefit of illustrating analysts' expectations of a firm. If the market believes that earnings will grow moving forward, then the forward P/E should be lower than the current P/E. Financial Leverage, also known as the Equity Multiplier, illustrates how a firm is financing its assets. The lower the number the more a firm is financing its assets internally through stockholder equity. The higher this metric is the more the firm is relying on debt to finance its assets.

We first looked for mid cap stocks. From here, we then looked for companies that are considered high-growth, with 5-year projected EPS growth above 25%. Next, we then screened for businesses that are trading at a discount (P/S<1)(forward P/E<10). We did not screen out any sectors.

Do you think these mid-cap stocks have strong fundamentals? Use this list as a starting-off point for your own analysis.

1) Delta Air Lines Inc. (NYSE:DAL)

Sector:Services
Industry:Major Airlines
Market Cap:$8.96B
Beta:2.50

Delta Air Lines Inc. has a 5-Year Projected Earnings Per Share Growth Rate of 36.75%, a Price/Sales Ratio of 0.58, and a Forward Price/Earnings Ratio of 3.68. The short interest was 1.17% as of 06/18/2012. Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates at airports in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, and Tokyo-Narita.

2) Harman International Industries Inc. (NYSE:HAR)

Sector:Consumer Goods
Industry:Electronic Equipment
Market Cap:$2.57B
Beta:2.16

Harman International Industries Inc. has a 5-Year Projected Earnings Per Share Growth Rate of 31.00%, a Price/Sales Ratio of 0.60, and a Forward Price/Earnings Ratio of 9.38. The short interest was 3.73% as of 06/18/2012. Harman International Industries, Incorporated engages in the development, manufacture, and marketing of audio products and electronic systems primarily in the United States, Germany, and other parts of Europe. Its Automotive segment offers audio, electronic, and infotainment systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers under the JBL, Infinity, Mark Levinson, Harman/Kardon, Logic 7, Lexicon, and Becker brand names. This segment also develops, manufactures, sells, and services audio systems under the Bowers & Wilkins brand name; and produces Harman/Kardon branded infotainment systems for Harley-Davidson touring motorcycles. The company's Consumer segment provides a range of audio and consumer electronics for home, multimedia, and mobile applications under the AKG, Harman/Kardon, Infinity, JBL, Mark Levinson, and Selenium brand names.

3) Rockwood Holdings, Inc. (NYSE:ROC)

Sector:Basic Materials
Industry:Specialty Chemicals
Market Cap:$3.56B
Beta:2.87

Rockwood Holdings, Inc. has a 5-Year Projected Earnings Per Share Growth Rate of 26.29%, a Price/Sales Ratio of 0.97, and a Forward Price/Earnings Ratio of 8.96. The short interest was 1.33% as of 06/18/2012. Rockwood Holdings, Inc. develops, manufactures, and markets specialty chemicals and materials for industrial and commercial applications primarily in Germany, the United States, and Europe. The company's specialty chemicals include lithium compounds and chemicals; metal surface treatment chemicals, including corrosion protection/prevention oils; natural and synthetic metal sulfides; and maintenance chemicals. Its specialty chemicals are use in automotive pre-coating metal treatment and car body pre-treatment; polymerization initiators for elastomers; steel and metal working; pharmaceutical synthesis and polymers in life sciences industry; batteries; and disc brakes, as well as for use in aircraft industry.

4) Embraer SA (NYSE:ERJ)

Sector:Industrial Goods
Industry:Aerospace/Defense Products & Services
Market Cap:$4.98B
Beta:1.78

Embraer SA has a 5-Year Projected Earnings Per Share Growth Rate of 45.18%, a Price/Sales Ratio of 0.84, and a Forward Price/Earnings Ratio of 8.53. The short interest was 1.11% as of 06/18/2012. Embraer S.A. develops, produces, and sells jet and turboprop aircrafts for civil and defense aviation markets.

5) Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR)

Sector:Consumer Goods
Industry:Processed & Packaged Goods
Market Cap:$3.22B
Beta:0.98

Green Mountain Coffee Roasters Inc. has a 5-Year Projected Earnings Per Share Growth Rate of 38.73%, a Price/Sales Ratio of 0.93, and a Forward Price/Earnings Ratio of 6.68. The short interest was 17.99% as of 06/18/2012. Green Mountain Coffee Roasters, Inc. engages in the specialty coffee and coffee maker business. The company sources, produces, and sells approximately 200 varieties of coffee, cocoa, teas, and other beverages in K-Cup portion packs and coffee in traditional packaging, including whole bean and ground coffee selections in bags and ground coffee in fractional packs for use in at-home (AH) and away-from-home (NASDAQ:AFH). It sells its products primarily in North America through supermarkets, club stores, and convenience stores; in restaurants and hospitality; and to office coffee distributors, as well as directly to consumers through its Website.

6) Oil States International Inc. (NYSE:OIS)

Sector:Basic Materials
Industry:Oil & Gas Equipment & Services
Market Cap:$3.47B
Beta:2.00

Oil States International Inc. has a 5-Year Projected Earnings Per Share Growth Rate of 38.80%, a Price/Sales Ratio of 0.91, and a Forward Price/Earnings Ratio of 8.06. The short interest was 4.99% as of 06/18/2012. Oil States International, Inc., through its subsidiaries, provides specialty products and services to the oil and gas drilling and production companies worldwide. It operates in four segments: Accommodations, Offshore Products, Well Site Services, and Tubular Services. The Accommodations segment offers temporary and permanent work force accommodation services for people working in remote locations.

7) Allegheny Technologies Inc. (NYSE:ATI)

Sector:Industrial Goods
Industry:Metal Fabrication
Market Cap:$3.09B
Beta:1.78

Allegheny Technologies Inc. has a 5-Year Projected Earnings Per Share Growth Rate of 37.16%, a Price/Sales Ratio of 0.58, and a Forward Price/Earnings Ratio of 7.43. The short interest was 3.57% as of 06/18/2012. Allegheny Technologies Incorporated engages in the production of specialty metals worldwide. It operates in three segments: High Performance Metals, Flat-Rolled Products, and Engineered Products. The High Performance Metals segment provides a range of high performance alloys, including nickel- and cobalt-based alloys and super alloys; titanium and titanium-based alloys; exotic metals, such as zirconium, hafnium, niobium, nickel-titanium, and related alloys; and other specialty alloys primarily in long product forms consisting of ingots, billets, bars, shapes and rectangles, rods, wires, seamless tubes, and castings. This segment also offers forged and cast metal components, and machined parts for various load-bearing and fatigue-resisting applications in the jet engine, aerospace, and industrial markets.

8) Goodyear Tire & Rubber Co. (NASDAQ:GT)

Sector:Consumer Goods
Industry:Rubber & Plastics
Market Cap:$2.67B
Beta:2.64

Goodyear Tire & Rubber Co. has a 5-Year Projected Earnings Per Share Growth Rate of 27.80%, a Price/Sales Ratio of 0.12, and a Forward Price/Earnings Ratio of 4.48. The short interest was 6.50% as of 06/18/2012. The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires, and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment, and various other applications. It sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands. The company is also involved in retreading truck, aviation, and off-the-road tires; manufacturing and selling tread rubber and other tire retreading materials; providing automotive repair services, and miscellaneous other products and services; and manufacturing and selling flaps for truck tires and other tires.

*Company profiles were sourced from Finviz. Financial data was sourced from Finviz and Google Finance.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.