3 Wholesale Stocks Dragging The Industry Down

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Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 22 points (-0.1%) at 16,065 as of Monday, Dec. 2, 2013, 11:45 AM ET. The NYSE advances/declines ratio sits at 1,030 issues advancing vs. 1,883 declining with 116 unchanged.

The Wholesale industry currently sits down 0.5% versus the S&P 500, which is unchanged.

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

3. Magna International ( MGA) is one of the companies pushing the Wholesale industry lower today. As of noon trading, Magna International is down $0.85 (-1.0%) to $80.49 on average volume. Thus far, 280,029 shares of Magna International exchanged hands as compared to its average daily volume of 576,300 shares. The stock has ranged in price between $80.43-$81.44 after having opened the day at $80.62 as compared to the previous trading day's close of $81.34.

Magna International Inc. designs, develops, manufactures, and engineers automotive systems and components to original equipment manufacturers primarily in North America, Europe, and internationally. Magna International has a market cap of $18.3 billion and is part of the services sector. The company has a P/E ratio of 13.8, below the S&P 500 P/E ratio of 17.7. Shares are up 63.1% year to date as of the close of trading on Friday. Currently there are 6 analysts that rate Magna International a buy, 1 analyst rates it a sell, and 3 rate it a hold.

TheStreet Ratings rates Magna International as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Magna International Ratings Report now.

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