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 0.2%. By the end of trading, Avnet fell $0.61 (-1.4%) to $42.38 on average volume. Throughout the day, 868,821 shares of Avnet exchanged hands as compared to its average daily volume of 911,200 shares. The stock ranged in price between $42.28-$42.94 after having opened the day at $42.75 as compared to the previous trading day's close of $42.99. Other companies within the Wholesale industry that declined today were: China Auto Logistics ( CALI), down 8.7%, Wayside Technology Group ( WSTG), down 3.3%, Coast Distribution System ( CRV), down 3.0% and Olympic Steel ( ZEUS), down 2.7%.

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 $5.9 billion and is part of the services sector. The company has a P/E ratio of 13.5, below the S&P 500 P/E ratio of 17.7. Shares are down 2.5% year to date as of the close of trading on Friday. 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 solid stock price performance, increase in net income, revenue growth, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, InfoSonics ( IFON), up 3.6%, Commercial Vehicle Group ( CVGI), up 2.8%, Addvantage Technologies Group ( AEY), up 2.8% and Sysco ( SYY), up 2.7% , were all gainers within the wholesale industry with McKesson ( MCK) 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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