3 Consumer Durables Stocks Dragging The Industry Down

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 153 points (1.0%) at 15,892 as of Thursday, Jan. 30, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 2,359 issues advancing vs. 580 declining with 163 unchanged.

The Consumer Durables industry currently sits up 1.2% versus the S&P 500, which is up 1.0%. A company within the industry that increased today was Xerox Corporation ( XRX), up 2.0%.

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

3. Canon ( CAJ) is one of the companies pushing the Consumer Durables industry lower today. As of noon trading, Canon is down $0.40 (-1.3%) to $29.40 on average volume. Thus far, 268,142 shares of Canon exchanged hands as compared to its average daily volume of 369,400 shares. The stock has ranged in price between $29.35-$29.72 after having opened the day at $29.64 as compared to the previous trading day's close of $29.80.

Canon Inc. engages in the manufacture and sale of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras, and lithography equipment worldwide. Canon has a market cap of $34.5 billion and is part of the consumer goods sector. The company has a P/E ratio of 12.2, below the S&P 500 P/E ratio of 17.7. Shares are down 6.6% year-to-date as of the close of trading on Wednesday. Currently there are 3 analysts that rate Canon a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Canon as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and disappointing return on equity. Get the full Canon Ratings Report now.

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