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Best Tool & Accessory Stocks to Buy Now (2024)

Top tool & accessory stocks in 2024 ranked by overall Zen Score. See the best tool & accessory stocks to buy now, according to analyst forecasts for the tools & accessories industry.

According to Zen Score, the 3 best tool & accessory stocks to buy right now are:

Kennametal (NYSE:KMT) is the top tool & accessory stock with a Zen Score of 57, which is 20 points higher than the tool & accessory industry average of 37. It passed 20 out of 38 due diligence checks and has strong fundamentals. Kennametal has seen its stock return 1.66% over the past year, underperforming other tool & accessory stocks by -8 percentage points.

Kennametal has an average 1 year price target of $24.33, a downside of -7.34% from Kennametal's current stock price of $26.26.

Kennametal stock has a consensus Sell recommendation according to Wall Street analysts. Of the 3 analysts covering Kennametal, 0% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 33.33% have issued a Strong Sell.

Timken Co (NYSE:TKR) is the second best tool & accessory stock with a Zen Score of 50, which is 13 points higher than the tool & accessory industry average of 37. It passed 17 out of 38 due diligence checks and has strong fundamentals. Timken Co has seen its stock return 25% over the past year, overperforming other tool & accessory stocks by 16 percentage points.

Timken Co has an average 1 year price target of $89.33, a downside of -4.05% from Timken Co's current stock price of $93.10.

Timken Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 9 analysts covering Timken Co, 33.33% have issued a Strong Buy rating, 11.11% have issued a Buy, 55.56% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Lincoln Electric Holdings (NASDAQ:LECO) is the third best tool & accessory stock with a Zen Score of 49, which is 12 points higher than the tool & accessory industry average of 37. It passed 18 out of 38 due diligence checks and has strong fundamentals. Lincoln Electric Holdings has seen its stock return 34.91% over the past year, overperforming other tool & accessory stocks by 26 percentage points.

Lincoln Electric Holdings has an average 1 year price target of $239.60, an upside of 4.63% from Lincoln Electric Holdings's current stock price of $228.99.

Lincoln Electric Holdings stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Lincoln Electric Holdings, 40% have issued a Strong Buy rating, 20% have issued a Buy, 20% have issued a hold, while 0% have issued a Sell rating, and 20% have issued a Strong Sell.

Out of 8 tool & accessory stocks that have issued dividends in the past year, the 3 tool & accessory stocks with the highest dividend yields are:

Stanley Black & Decker (NYSE:SWK) has an annual dividend yield of 3.53%, which is 1 percentage points higher than the tool & accessory industry average of 2.24%. Stanley Black & Decker's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Stanley Black & Decker's dividend has shown consistent growth over the last 10 years.

Stanley Black & Decker's dividend payout ratio of -468.1% indicates that its dividend yield might not be sustainable for the long-term.

Chicago Rivet & Machine Co (NYSEMKT:CVR) has an annual dividend yield of 3.15%, which is 1 percentage points higher than the tool & accessory industry average of 2.24%. Chicago Rivet & Machine Co's dividend payout is not stable, having dropped more than 10% seven times in the last 10 years. Chicago Rivet & Machine Co's dividend has not shown consistent growth over the last 10 years.

Chicago Rivet & Machine Co's dividend payout ratio of -11.1% indicates that its dividend yield might not be sustainable for the long-term.

Kennametal (NYSE:KMT) has an annual dividend yield of 3.05%, which is 1 percentage points higher than the tool & accessory industry average of 2.24%. Kennametal's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Kennametal's dividend has shown consistent growth over the last 10 years.

Kennametal's dividend payout ratio of 43.8% indicates that its dividend yield is sustainable for the long-term.

Tool & accessory stocks were up 0.25% in the last day, and up 2.31% over the last week.

We couldn't find a catalyst for why tool & accessory stocks are up.

Based on WallStreetZen's Valuation Score, the 3 most undervalued tool & accessory stocks right now are:

Kennametal (NYSE:KMT) is the most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Kennametal has a valuation score of 71, which is 38 points higher than the tool & accessory industry average of 33. It passed 5 out of 7 valuation due diligence checks.

Kennametal's stock has gained 1.66% in the past year. It has underperformed other stocks in the tool & accessory industry by -8 percentage points.

Starrett L S Co (NYSE:SCX) is the second most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Starrett L S Co has a valuation score of 71, which is 38 points higher than the tool & accessory industry average of 33. It passed 5 out of 7 valuation due diligence checks.

Starrett L S Co's stock has gained 49.49% in the past year. It has overperformed other stocks in the tool & accessory industry by 40 percentage points.

Timken Co (NYSE:TKR) is the third most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Timken Co has a valuation score of 57, which is 24 points higher than the tool & accessory industry average of 33. It passed 4 out of 7 valuation due diligence checks.

Timken Co's stock has gained 25% in the past year. It has overperformed other stocks in the tool & accessory industry by 16 percentage points.