So far, August hasn't started out as a great month for the stock market. Many shareholders who had been enjoying gains earlier in the year have seen many of those gains reverse as rising interest rates continue to provide an ever more compelling alternative to stocks for income-oriented investors.

Yet if there's an upside to a down market, it's that they often offer up value prices on solid businesses. With that in mind, three Motley Fool contributors examined companies that looked like genuine bargains in today's market. They picked Advance Auto Parts (NYSE: AAP), Axos Financial (NYSE: AX), and Albertsons (NYSE: ACI). Read on to find out why and determine for yourself whether they represent the types of value-priced businesses you'd like to own for yourself.

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