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Ford tops the list of the cheapest stocks in the market right now

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CNBC PRO ran a screen looking for the cheapest stocks relative to the rest of the market and their historical valuations.

Here's the criteria: Cheap relative to the market: Forward P/E below 17.

Note that forward P/E is the price-earnings ratio based on earnings estimates for the next 12 months. The rest of the list includes pandemic darlings Netflix and Moderna , whose valuations have both come crashing back to earth as the U.S. tries to move on from Covid. Note that the list is not all beaten-up shares. A couple energy stocks make the list with an expected earnings surge this year due to high oil prices making those shares appear cheap. Exxon Mobil sports a forward P/E of just 10.

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