Avnet Inc (AVT): Today's Featured Wholesale Laggard

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.

Avnet ( AVT) pushed the Wholesale industry lower today making it today's featured Wholesale laggard. The industry as a whole closed the day down 0.6%. By the end of trading, Avnet fell $3.15 (-6.7%) to $43.57 on heavy volume. Throughout the day, 2,326,390 shares of Avnet exchanged hands as compared to its average daily volume of 886,700 shares. The stock ranged in price between $42.15-$44.37 after having opened the day at $43.33 as compared to the previous trading day's close of $46.72. Other companies within the Wholesale industry that declined today were: Ingram Micro ( IM), down 9.2%, Armco Metals Holdings ( AMCO), down 5.6%, Arrow Electronics ( ARW), down 2.6% and United Stationers ( USTR), down 2.5%.

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 $6.5 billion and is part of the services sector. Shares are up 5.9% year to date as of the close of trading on Wednesday. Currently there are 5 analysts that 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, attractive valuation levels 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.

On the positive front, Hudson Technology ( HDSN), up 3.9%, Empire Resources ( ERS), up 1.9% and Magna International ( MGA), up 1.8% , were all gainers within the wholesale industry with Wesco International ( WCC) being today's featured wholesale industry leader.

For investors not wanting singular stock exposure, 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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