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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.

Industry: Tools & Accessories
Ticker
Company
Forecast Score
Market Cap
Price
Price Target
Upside/Downside
Top Analysts Upside/Downside
Consensus
Top Analysts Consensus
Analysts
Top Analysts
Fore. Revenue Growth
Fore. Earnings Growth
Forecast ROE
Forecast ROA
KMT
KENNAMETAL INC
$1.97B$24.86$24.00-3.46%Sell40.66%34.96%N/AN/A
LECO
LINCOLN ELECTRIC HOLDINGS INC
$14.68B$258.37$231.40-10.44%Buy53.07%-4.17%N/AN/A
TKR
TIMKEN CO
$6.18B$88.14$85.90-2.54%Buy10-0.31%17.95%N/AN/A
SNA
SNAP-ON INC
$15.65B$296.94$315.006.08%Buy4-0.95%-4.88%N/AN/A
TTC
TORO CO
$9.41B$90.10$97.508.21%Hold23.85%36.31%N/AN/A
SCX
STARRETT L S CO
$119.33M$15.90N/AN/AN/AN/AN/AN/AN/AN/A
RBC
RBC BEARINGS INC
$7.93B$271.74$274.000.83%Buy55.04%28.41%N/AN/A
EML
EASTERN CO
$212.32M$34.20N/AN/AN/AN/AN/AN/AN/AN/A
TBLT
TOUGHBUILT INDUSTRIES INC
$1.69M$2.98N/AN/AN/AN/A32.98%N/AN/AN/A
CVR
CHICAGO RIVET & MACHINE CO
$15.82M$16.38N/AN/AN/AN/AN/AN/AN/AN/A
HLMN
HILLMAN SOLUTIONS CORP
$2.08B$10.66$11.507.88%Strong Buy54.09%N/AN/AN/A
SWK
STANLEY BLACK & DECKER INC
$14.93B$97.06$99.502.51%Buy40.03%N/AN/AN/A

Tool & Accessory Stocks FAQ

What are the best tool & accessory stocks to buy right now in Mar 2024?

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

1. Kennametal (NYSE:KMT)


Kennametal (NYSE:KMT) is the top tool & accessory stock with a Zen Score of 57, which is 21 points higher than the tool & accessory industry average of 36. It passed 20 out of 38 due diligence checks and has strong fundamentals. Kennametal has seen its stock lose -4.64% over the past year, underperforming other tool & accessory stocks by -18 percentage points.

Kennametal has an average 1 year price target of $24.00, a downside of -3.46% from Kennametal's current stock price of $24.86.

Kennametal stock has a consensus Sell recommendation according to Wall Street analysts. Of the 4 analysts covering Kennametal, 0% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 50% have issued a Strong Sell.

2. Lincoln Electric Holdings (NASDAQ:LECO)


Lincoln Electric Holdings (NASDAQ:LECO) is the second best tool & accessory stock with a Zen Score of 53, which is 17 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 59.21% over the past year, overperforming other tool & accessory stocks by 46 percentage points.

Lincoln Electric Holdings has an average 1 year price target of $231.40, a downside of -10.44% from Lincoln Electric Holdings's current stock price of $258.37.

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.

3. Timken Co (NYSE:TKR)


Timken Co (NYSE:TKR) is the third best tool & accessory stock with a Zen Score of 51, which is 15 points higher than the tool & accessory industry average of 36. It passed 18 out of 38 due diligence checks and has strong fundamentals. Timken Co has seen its stock return 12.67% over the past year, underperforming other tool & accessory stocks by -1 percentage points.

Timken Co has an average 1 year price target of $85.90, a downside of -2.54% from Timken Co's current stock price of $88.14.

Timken Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 10 analysts covering Timken Co, 30% have issued a Strong Buy rating, 10% have issued a Buy, 50% have issued a hold, while 10% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the tool & accessory stocks with highest dividends?

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:

1. Stanley Black & Decker (NYSE:SWK)


Stanley Black & Decker (NYSE:SWK) has an annual dividend yield of 3.33%, which is 1 percentage points higher than the tool & accessory industry average of 2.21%. 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 -155.6% indicates that its dividend yield might not be sustainable for the long-term.

2. Kennametal (NYSE:KMT)


Kennametal (NYSE:KMT) has an annual dividend yield of 3.22%, which is 1 percentage points higher than the tool & accessory industry average of 2.21%. 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 52.3% indicates that its dividend yield is sustainable for the long-term.

3. Chicago Rivet & Machine Co (NYSEMKT:CVR)


Chicago Rivet & Machine Co (NYSEMKT:CVR) has an annual dividend yield of 3.18%, which is 1 percentage points higher than the tool & accessory industry average of 2.21%. Chicago Rivet & Machine Co's dividend payout is not stable, having dropped more than 10% eight 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 -17.6% indicates that its dividend yield might not be sustainable for the long-term.

Why are tool & accessory stocks up?

Tool & accessory stocks were up 2.17% in the last day, and up 2.09% over the last week.

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

What are the most undervalued tool & accessory stocks?

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

1. Starrett L S Co (NYSE:SCX)


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 57, which is 31 points higher than the tool & accessory industry average of 26. It passed 4 out of 7 valuation due diligence checks.

Starrett L S Co's stock has gained 46.01% in the past year. It has overperformed other stocks in the tool & accessory industry by 33 percentage points.

2. Kennametal (NYSE:KMT)


Kennametal (NYSE:KMT) is the second most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Kennametal has a valuation score of 57, which is 31 points higher than the tool & accessory industry average of 26. It passed 4 out of 7 valuation due diligence checks.

Kennametal's stock has dropped -4.64% in the past year. It has underperformed other stocks in the tool & accessory industry by -18 percentage points.

3. Timken Co (NYSE:TKR)


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 43, which is 17 points higher than the tool & accessory industry average of 26. It passed 3 out of 7 valuation due diligence checks.

Timken Co's stock has gained 12.67% in the past year. It has underperformed other stocks in the tool & accessory industry by -1 percentage points.

Are tool & accessory stocks a good buy now?

62.5% of tool & accessory stocks rated by analysts are a buy right now. On average, analysts expect tool & accessory stocks to rise by 0.08% over the next year.

What is the average p/e ratio of the tools & accessories industry?

The average P/E ratio of the tools & accessories industry is 4.09x.
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