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Best Tool & Accessory Stocks to Buy Now (2024)

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

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

Toro Co (NYSE:TTC) is the top tool & accessory stock with a Due Diligence Score of 55, which is 19 points higher than the tool & accessory industry average of 36. It passed 20 out of 38 due diligence checks and has strong fundamentals. Toro Co has seen its stock return 5.54% over the past year, underperforming other tool & accessory stocks by -16 percentage points.

Toro Co has an average 1 year price target of $93.33, an upside of 7.18% from Toro Co's current stock price of $87.08.

Toro Co stock has a consensus Hold recommendation according to Wall Street analysts. Of the 3 analysts covering Toro Co, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% 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 second best tool & accessory stock with a Due Diligence Score of 52, which is 16 points higher than the tool & accessory industry average of 36. It passed 19 out of 38 due diligence checks and has strong fundamentals. Lincoln Electric Holdings has seen its stock return 11.59% over the past year, underperforming other tool & accessory stocks by -10 percentage points.

Lincoln Electric Holdings has an average 1 year price target of $209.00, a downside of -4.34% from Lincoln Electric Holdings's current stock price of $218.48.

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

Snap On (NYSE:SNA) is the third best tool & accessory stock with a Due Diligence Score of 48, which is 12 points higher than the tool & accessory industry average of 36. It passed 17 out of 38 due diligence checks and has strong fundamentals. Snap On has seen its stock return 36% over the past year, overperforming other tool & accessory stocks by 14 percentage points.

Snap On has an average 1 year price target of $345.40, a downside of -6.57% from Snap On's current stock price of $369.69.

Snap On stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Snap On, 20% have issued a Strong Buy rating, 40% have issued a Buy, 20% have issued a hold, while 20% 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:

Kennametal (NYSE:KMT) has an annual dividend yield of 2.79%, which is 1 percentage points higher than the tool & accessory industry average of 2.02%. 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 46.9% indicates that its dividend yield is sustainable for the long-term.

Stanley Black & Decker (NYSE:SWK) has an annual dividend yield of 2.74%, which is 1 percentage points higher than the tool & accessory industry average of 2.02%. 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 -179.4% 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 2.35%, which is the same as the tool & accessory industry average of 2.02%. 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 -10.9% indicates that its dividend yield might not be sustainable for the long-term.

Tool & accessory stocks were down -0.13% in the last day, and up 0.72% over the last week.

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

Based on WallStreetZen's Valuation Score, the 2 most undervalued tool & accessory stocks right now are:

Timken Co (NYSE:TKR) is the most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Timken Co has a valuation score of 43, which is 26 points higher than the tool & accessory industry average of 17. It passed 3 out of 7 valuation due diligence checks.

Timken Co's stock has gained 6.18% in the past year. It has underperformed other stocks in the tool & accessory industry by -16 percentage points.

Kennametal (NYSE:KMT) is the second most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Kennametal has a valuation score of 29, which is 12 points higher than the tool & accessory industry average of 17. It passed 2 out of 7 valuation due diligence checks.

Kennametal's stock has gained 22.86% in the past year. It has overperformed other stocks in the tool & accessory industry by 1 percentage points.