Shares of Kimberly Clark Corp.  (KMB) - Get Report are struggling Friday, falling 1.8% to $113.46, although shares are significantly off session lows around $110. That initial drop took Kimberly Clark stock down to new 52-week lows.

So what's got the stock hurting? Analysts at JPMorgan downgraded the stock to underperform from neutral and slashed their price target to $100 from $135. Their new target implies about 12% downside from current levels. The consumer products industry is under a lot of pressure, TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment.

Analysts argue that Kimberly Clark should trade at a lower valuation than it has in the past, in part thanks to these struggles, Cramer said. They also pointed out margin pressures and decelerating sales.

It doesn't do any good to single out the executives here, Cramer reasoned. Be it Kimberly Clark, Procter & Gamble (PG) - Get Report or Unilever (UL) - Get Report  -- most of these companies are struggling because the industry is in a period where business is quite tough.

Investors need to recognize that it's simply tough sledding out there, he explained. Unlike General Electric (GE) - Get Report , which is face-planting in a time where the industrial sector is in a renaissance revival, the consumer products division is under fire.

While he's giving these companies a pass, Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, is not being so lenient with GE, one of his portfolio holdings. However, he did acknowledge that current CEO John Flannery seems fit for the task at hand. "Mr. Flannery is a real good man, he's going to clean up this situation," Cramer said earlier on CNBC.

General Electric is a holding in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GE?Learn more now.

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At the time of publication, Cramer's Action Alerts PLUS had no position in any companies mentioned.