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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 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 -7.18% over the past year, underperforming other tool & accessory stocks by -12 percentage points.

Kennametal has an average 1 year price target of $23.75, a downside of -1.74% from Kennametal's current stock price of $24.17.

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.

Timken Co (NYSE:TKR) is the second 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 9.2% over the past year, overperforming other tool & accessory stocks by 5 percentage points.

Timken Co has an average 1 year price target of $88.13, an upside of 2.84% from Timken Co's current stock price of $85.69.

Timken Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 8 analysts covering Timken Co, 37.5% have issued a Strong Buy rating, 12.5% have issued a Buy, 50% 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 13 points higher than the tool & accessory industry average of 36. It passed 18 out of 38 due diligence checks and has strong fundamentals. Lincoln Electric Holdings has seen its stock return 46.31% over the past year, overperforming other tool & accessory stocks by 42 percentage points.

Lincoln Electric Holdings has an average 1 year price target of $231.80, a downside of -1.43% from Lincoln Electric Holdings's current stock price of $235.16.

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 3.61%, which is 1 percentage points higher than the tool & accessory industry average of 2.31%. 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.

Kennametal (NYSE:KMT) has an annual dividend yield of 3.31%, which is 1 percentage points higher than the tool & accessory industry average of 2.31%. 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.

Chicago Rivet & Machine Co (NYSEMKT:CVR) has an annual dividend yield of 3.21%, which is 1 percentage points higher than the tool & accessory industry average of 2.31%. 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 -11.4% indicates that its dividend yield might not be sustainable for the long-term.

Tool & accessory stocks were down -0.08% in the last day, and down -2.48% 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 57, which is 28 points higher than the tool & accessory industry average of 29. It passed 4 out of 7 valuation due diligence checks.

Kennametal's stock has dropped -7.18% in the past year. It has underperformed other stocks in the tool & accessory industry by -12 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 57, which is 28 points higher than the tool & accessory industry average of 29. It passed 4 out of 7 valuation due diligence checks.

Starrett L S Co's stock has gained 48.7% in the past year. It has overperformed other stocks in the tool & accessory industry by 44 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 43, which is 14 points higher than the tool & accessory industry average of 29. It passed 3 out of 7 valuation due diligence checks.

Timken Co's stock has gained 9.2% in the past year. It has overperformed other stocks in the tool & accessory industry by 5 percentage points.