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Best Tool & Accessory Stocks to Buy Now (2023)

Top tool & accessory stocks in 2023 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:

Snap On (NYSE:SNA) 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 21 out of 38 due diligence checks and has strong fundamentals. Snap On has seen its stock return 22.37% over the past year, overperforming other tool & accessory stocks by 10 percentage points.

Snap On has an average 1 year price target of $278.00, an upside of 3.89% from Snap On's current stock price of $267.58.

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.

Toro Co (NYSE:TTC) is the second best tool & accessory stock with a Zen Score of 52, which is 15 points higher than the tool & accessory industry average of 37. It passed 20 out of 38 due diligence checks and has strong fundamentals. Toro Co has seen its stock return 17.02% over the past year, overperforming other tool & accessory stocks by 5 percentage points.

Toro Co has an average 1 year price target of $131.50, an upside of 35.93% from Toro Co's current stock price of $96.74.

Toro Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Toro Co, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Timken Co (NYSE:TKR) is the third 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 18 out of 38 due diligence checks and has strong fundamentals. Timken Co has seen its stock return 30.69% over the past year, overperforming other tool & accessory stocks by 19 percentage points.

Timken Co has an average 1 year price target of $90.44, an upside of 9.38% from Timken Co's current stock price of $82.69.

Timken Co stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 9 analysts covering Timken Co, 55.56% have issued a Strong Buy rating, 22.22% have issued a Buy, 22.22% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 10 tool & accessory stocks that have issued dividends in the past year, the 3 tool & accessory stocks with the highest dividend yields are:

Griffon (NYSE:GFF) has an annual dividend yield of 12.07%, which is 9 percentage points higher than the tool & accessory industry average of 3.42%. Griffon's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Griffon's dividend has shown consistent growth over the last 10 years.

Griffon's dividend payout ratio of -42.4% indicates that its high dividend yield might not be sustainable for the long-term.

Stanley Black & Decker (NYSE:SWK) has an annual dividend yield of 3.78%, which is the same as the tool & accessory industry average of 3.42%. 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 65.6% indicates that its dividend yield is sustainable for the long-term.

Chicago Rivet & Machine Co (NYSEMKT:CVR) has an annual dividend yield of 3.45%, which is the same as the tool & accessory industry average of 3.42%. 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 shown consistent growth over the last 10 years.

Chicago Rivet & Machine Co's dividend payout ratio of 46.1% indicates that its dividend yield is sustainable for the long-term.

Tool & accessory stocks were down -0.67% in the last day, and up 2.79% 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:

Starrett L S Co (NYSE:SCX) is the most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Starrett L S Co has a valuation score of 71, which is 39 points higher than the tool & accessory industry average of 32. It passed 5 out of 7 valuation due diligence checks.

Starrett L S Co's stock has gained 38.71% in the past year. It has overperformed other stocks in the tool & accessory industry by 27 percentage points.

Chicago Rivet & Machine Co (NYSEMKT:CVR) is the second most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Chicago Rivet & Machine Co has a valuation score of 43, which is 11 points higher than the tool & accessory industry average of 32. It passed 3 out of 7 valuation due diligence checks.

Chicago Rivet & Machine Co's stock has dropped -9.86% in the past year. It has underperformed other stocks in the tool & accessory industry by -22 percentage points.

Rbc Bearings (NYSE:RBC) is the third most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Rbc Bearings has a valuation score of 43, which is 11 points higher than the tool & accessory industry average of 32. It passed 3 out of 7 valuation due diligence checks.

Rbc Bearings's stock has gained 9.84% in the past year. It has underperformed other stocks in the tool & accessory industry by -2 percentage points.