3 Stocks Pushing The Wholesale Industry Downward

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One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 8 points (0.0%) at 17,140 as of Wednesday, Sept. 17, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,738 issues advancing vs. 1,242 declining with 174 unchanged.

The Wholesale industry currently sits up 0.2% versus the S&P 500, which is unchanged. A company within the industry that fell today was LKQ ( LKQ), up 0.9%. A company within the industry that increased today was Airgas ( ARG), up 0.5%.

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

3. Fastenal ( FAST) is one of the companies pushing the Wholesale industry lower today. As of noon trading, Fastenal is down $0.29 (-0.6%) to $45.53 on light volume. Thus far, 340,413 shares of Fastenal exchanged hands as compared to its average daily volume of 1.9 million shares. The stock has ranged in price between $45.48-$46.04 after having opened the day at $45.94 as compared to the previous trading day's close of $45.82.

Fastenal Company, together with its subsidiaries, operates as a wholesaler and retailer of industrial and construction supplies in the United States, Canada, and internationally. The company offers fasteners and other industrial and construction supplies under the Fastenal name. Fastenal has a market cap of $13.6 billion and is part of the services sector. Shares are down 3.6% year-to-date as of the close of trading on Tuesday. Currently there are 4 analysts that rate Fastenal a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Fastenal 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, growth in earnings per share, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Fastenal Ratings Report now.

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