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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 3.67% over the past year, underperforming other tool & accessory stocks by -6 percentage points.

Kennametal has an average 1 year price target of $24.33, a downside of -6.45% from Kennametal's current stock price of $26.01.

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.

Lincoln Electric Holdings (NASDAQ:LECO) is the second best tool & accessory stock with a Zen Score of 51, which is 14 points higher than the tool & accessory industry average of 37. It passed 19 out of 38 due diligence checks and has strong fundamentals. Lincoln Electric Holdings has seen its stock return 36.32% over the past year, overperforming other tool & accessory stocks by 27 percentage points.

Lincoln Electric Holdings has an average 1 year price target of $239.60, an upside of 4.97% from Lincoln Electric Holdings's current stock price of $228.26.

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.

Timken Co (NYSE:TKR) is the third 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 24.63% over the past year, overperforming other tool & accessory stocks by 15 percentage points.

Timken Co has an average 1 year price target of $89.33, a downside of -1.6% from Timken Co's current stock price of $90.79.

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.

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 3.6%, which is 1 percentage points higher than the tool & accessory industry average of 2.26%. 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 2.26%. 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 3.08%, which is 1 percentage points higher than the tool & accessory industry average of 2.26%. 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 down -1.42% in the last day, and down -0.49% over the last week.

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

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 3.67% in the past year. It has underperformed other stocks in the tool & accessory industry by -6 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 52.74% in the past year. It has overperformed other stocks in the tool & accessory industry by 43 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 24.63% in the past year. It has overperformed other stocks in the tool & accessory industry by 15 percentage points.