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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 115.15 points (-0.7%) at 16,544 as of Friday, Oct. 10, 2014, 4:20 PM ET. The NYSE advances/declines ratio sits at 661 issues advancing vs. 2,445 declining with 104 unchanged.

The Specialty Retail industry as a whole closed the day down 0.3% versus the S&P 500, which was down 1.1%. Top gainers within the Specialty Retail industry included Mecox Lane ( MCOX), up 3.2%, Odyssey Marine Exploration ( OMEX), up 4.7%, West Marine ( WMAR), up 2.2%, HHGregg ( HGG), up 3.0% and Zagg ( ZAGG), up 2.4%.

TheStreet Ratings Group would like to highlight 3 stocks pushing the industry higher today:

West Marine ( WMAR) is one of the companies that pushed the Specialty Retail industry higher today. West Marine was up $0.20 (2.2%) to $9.09 on light volume. Throughout the day, 21,163 shares of West Marine exchanged hands as compared to its average daily volume of 60,600 shares. The stock ranged in a price between $8.83-$9.26 after having opened the day at $8.83 as compared to the previous trading day's close of $8.89.

West Marine, Inc. operates as a specialty retailer of boating supplies, gear, apparel, footwear, and other water life-related products primarily in the United States. West Marine has a market cap of $224.1 million and is part of the services sector. Shares are down 37.5% year-to-date as of the close of trading on Thursday. Currently there is 1 analyst who rates West Marine a buy, no analysts rate it a sell, and none rate it a hold.

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TheStreet Ratings rates West Marine 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, good cash flow from operations and expanding profit margins. 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 deteriorating net income.

Highlights from TheStreet Ratings analysis on WMAR go as follows:

  • WMAR has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Despite the fact that WMAR's debt-to-equity ratio is low, the quick ratio, which is currently 0.51, displays a potential problem in covering short-term cash needs.
  • Net operating cash flow has slightly increased to $37.16 million or 8.23% when compared to the same quarter last year. Despite an increase in cash flow, WEST MARINE INC's average is still marginally south of the industry average growth rate of 8.99%.
  • 36.75% is the gross profit margin for WEST MARINE INC which we consider to be strong. Regardless of WMAR's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 7.74% trails the industry average.
  • WEST MARINE INC's earnings per share declined by 16.7% in the most recent quarter compared to the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, WEST MARINE INC reported lower earnings of $0.29 versus $0.64 in the prior year. For the next year, the market is expecting a contraction of 32.8% in earnings ($0.20 versus $0.29).
  • The company, on the basis of change in net income from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and greatly underperformed compared to the Specialty Retail industry average. The net income has decreased by 17.7% when compared to the same quarter one year ago, dropping from $22.24 million to $18.30 million.

You can view the full analysis from the report here: West Marine Ratings Report

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At the close, Odyssey Marine Exploration ( OMEX) was up $0.04 (4.7%) to $0.92 on average volume. Throughout the day, 433,643 shares of Odyssey Marine Exploration exchanged hands as compared to its average daily volume of 479,600 shares. The stock ranged in a price between $0.85-$0.93 after having opened the day at $0.87 as compared to the previous trading day's close of $0.88.

Odyssey Marine Exploration, Inc., together with its subsidiaries, is engaged in the archaeologically sensitive exploration and recovery of deep-ocean shipwrecks worldwide. Odyssey Marine Exploration has a market cap of $82.2 million and is part of the services sector. Shares are down 56.5% year-to-date as of the close of trading on Thursday. Currently there are 2 analysts who rate Odyssey Marine Exploration a buy, no analysts rate it a sell, and none rate it a hold.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings rates Odyssey Marine Exploration as a sell. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on OMEX go as follows:

  • Currently the debt-to-equity ratio of 1.88 is quite high overall and when compared to the industry average, suggesting that the current management of debt levels should be re-evaluated. To add to this, OMEX has a quick ratio of 0.58, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
  • OMEX's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 65.42%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • ODYSSEY MARINE EXPLORATION reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, ODYSSEY MARINE EXPLORATION continued to lose money by earning -$0.14 versus -$0.25 in the prior year. For the next year, the market is expecting a contraction of 85.7% in earnings (-$0.26 versus -$0.14).
  • Compared to other companies in the Professional Services industry and the overall market, ODYSSEY MARINE EXPLORATION's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has increased to -$6.27 million or 39.30% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 17.81%.

You can view the full analysis from the report here: Odyssey Marine Exploration Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Mecox Lane ( MCOX) was another company that pushed the Specialty Retail industry higher today. Mecox Lane was up $0.12 (3.2%) to $3.82 on light volume. Throughout the day, 7,200 shares of Mecox Lane exchanged hands as compared to its average daily volume of 15,200 shares. The stock ranged in a price between $3.70-$3.82 after having opened the day at $3.70 as compared to the previous trading day's close of $3.70.

Mecox Lane Limited designs and sells apparel, accessories, and home and healthcare products through its online platform and stores in the People's Republic of China. Mecox Lane has a market cap of $50.4 million and is part of the services sector. Shares are up 1.4% year-to-date as of the close of trading on Thursday. Currently there are no analysts who rate Mecox Lane a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Mecox Lane as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and disappointing return on equity.

Highlights from TheStreet Ratings analysis on MCOX go as follows:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Internet & Catalog Retail industry. The net income has significantly decreased by 96.1% when compared to the same quarter one year ago, falling from -$6.19 million to -$12.13 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Internet & Catalog Retail industry and the overall market, MECOX LANE LTD's return on equity significantly trails that of both the industry average and the S&P 500.
  • In its most recent trading session, MCOX has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Turning our attention to the future direction of the stock, we do not believe this stock offers ample reward opportunity to compensate for the risks, despite the fact that it rose over the past year.
  • MECOX LANE LTD's earnings per share declined by 45.5% in the most recent quarter compared to the same quarter a year ago. This company has not demonstrated a clear trend in earnings over the past 2 years, making it difficult to accurately predict earnings for the coming year. During the past fiscal year, MECOX LANE LTD continued to lose money by earning -$1.56 versus -$1.95 in the prior year.
  • MCOX has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.42 is very weak and demonstrates a lack of ability to pay short-term obligations.

You can view the full analysis from the report here: Mecox Lane Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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.