3 Stocks Pushing The Wholesale Industry Lower

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 34 points (0.2%) at 16,464 as of Wednesday, Aug. 6, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,014 issues advancing vs. 970 declining with 140 unchanged.

The Wholesale industry currently sits up 0.5% versus the S&P 500, which is up 0.4%.

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

3. Avnet ( AVT) is one of the companies pushing the Wholesale industry lower today. As of noon trading, Avnet is down $0.46 (-1.1%) to $42.89 on average volume. Thus far, 359,317 shares of Avnet exchanged hands as compared to its average daily volume of 586,400 shares. The stock has ranged in price between $42.76-$43.95 after having opened the day at $43.87 as compared to the previous trading day's close of $43.35.

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. Shares are down 2.1% year-to-date as of the close of trading on Tuesday. 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 increase in stock price during the past year, 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. Get the full Avnet Ratings Report now.

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