3 Stocks Driving The Wholesale Industry Higher

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.

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 48 points (0.3%) at 16,465 as of Friday, Jan. 17, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,451 issues advancing vs. 1,447 declining with 177 unchanged.

The Wholesale industry currently sits up 0.9% versus the S&P 500, which is down 0.1%. A company within the industry that fell today was LKQ Corporation ( LKQ), up 2.7%.

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

3. Avnet ( AVT) is one of the companies pushing the Wholesale industry higher today. As of noon trading, Avnet is up $0.40 (0.9%) to $43.89 on light volume. Thus far, 161,718 shares of Avnet exchanged hands as compared to its average daily volume of 821,100 shares. The stock has ranged in price between $43.30-$43.96 after having opened the day at $43.31 as compared to the previous trading day's close of $43.49.

Avnet, Inc., together with its subsidiaries, distributes electronic components, enterprise computer and storage products, and embedded subsystems in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. Avnet has a market cap of $6.0 billion and is part of the services sector. The company has a P/E ratio of 13.0, below the S&P 500 P/E ratio of 17.7. Shares are down 1.4% year-to-date as of the close of trading on Thursday. Currently there are 5 analysts who rate Avnet a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Avnet as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, attractive valuation levels and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Avnet Ratings Report now.

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2. As of noon trading, Magna International ( MGA) is up $1.35 (1.6%) to $88.18 on average volume. Thus far, 423,076 shares of Magna International exchanged hands as compared to its average daily volume of 589,500 shares. The stock has ranged in price between $86.13-$88.23 after having opened the day at $87.01 as compared to the previous trading day's close of $86.83.

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 $18.9 billion and is part of the services sector. The company has a P/E ratio of 14.4, below the S&P 500 P/E ratio of 17.7. Shares are up 5.8% year-to-date as of the close of trading on Thursday. Currently there are 7 analysts who 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.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Omnicare ( OCR) is up $0.91 (1.4%) to $63.47 on light volume. Thus far, 278,550 shares of Omnicare exchanged hands as compared to its average daily volume of 943,800 shares. The stock has ranged in price between $62.60-$63.49 after having opened the day at $62.60 as compared to the previous trading day's close of $62.56.

Omnicare, Inc. operates as a healthcare services company that specializes in the management of pharmaceutical care in the United States and Canada. The company operates in two segments, Long-Term Care Group and Specialty Care Group. Omnicare has a market cap of $6.4 billion and is part of the services sector. The company has a P/E ratio of 68.5, above the S&P 500 P/E ratio of 17.7. Shares are up 3.6% year-to-date as of the close of trading on Thursday. Currently there are 4 analysts who rate Omnicare a buy, no analysts rate it a sell, and 2 rate it a hold.

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

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the wholesale industry could consider iShares Dow Jones US Cons Goods ( IYK) while those bearish on the wholesale industry could consider ProShares Ultra Sht Consumer Goods ( SZK).

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