There's an old saying in personal finance that states you get what you pay for. "Cheap" stocks are rarely ever cheap because they are often value traps. But every now and then, stocks that appear to be cheap can prove to be downright bargains.

Consumer staples company Conagra Brands (NYSE: CAG) is arguably a downright steal. Let's closely examine the company's fundamentals and valuation to flesh out the case for this argument.

Most consumers probably aren't familiar with Conagra as a holding company. But with a brand portfolio headed by Slim Jim meat sticks and jerky, Marie Callender's frozen meals, and Orville Redenbacher's popcorn, the company's products can be found in millions of households.

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Source Fool.com