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3 Stocks Dragging In The Consumer Goods Sector

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average (^DJI) trading down 91 points (-0.5%) at 16,894 as of Thursday, July 10, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 864 issues advancing vs. 2,123 declining with 163 unchanged.

The Consumer Goods sector currently sits down 1.0% versus the S&P 500, which is down 0.4%. On the negative front, top decliners within the sector include Royal Philips (PHG), down 2.4%, Toyota Motor (TM), down 1.6% and Philip Morris International (PM), down 1.2%. A company within the sector that increased today was Archer-Daniels Midland (ADM), up 2.2%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Canon (CAJ) is one of the companies pushing the Consumer Goods sector lower today. As of noon trading, Canon is down $0.44 (-1.4%) to $32.17 on average volume. Thus far, 177,979 shares of Canon exchanged hands as compared to its average daily volume of 253,500 shares. The stock has ranged in price between $32.00-$32.18 after having opened the day at $32.01 as compared to the previous trading day's close of $32.61.

Canon Inc. manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras, and lithography equipment. Canon has a market cap of $36.4 billion and is part of the consumer durables industry. Shares are up 1.9% year-to-date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Canon a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Canon as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Canon Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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