Sectors & IndustriesIndustrialsTools & Accessories

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 19 points higher than the tool & accessory industry average of 38. It passed 21 out of 38 due diligence checks and has strong fundamentals. Snap On has seen its stock return 21.31% over the past year, overperforming other tool & accessory stocks by 9 percentage points.

Snap On has an average 1 year price target of $304.40, an upside of 18.97% from Snap On's current stock price of $255.86.

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.

Timken Co (NYSE:TKR) is the second best tool & accessory stock with a Zen Score of 53, which is 15 points higher than the tool & accessory industry average of 38. It passed 19 out of 38 due diligence checks and has strong fundamentals. Timken Co has seen its stock return 17.28% over the past year, overperforming other tool & accessory stocks by 5 percentage points.

Timken Co has an average 1 year price target of $92.40, an upside of 27.92% from Timken Co's current stock price of $72.23.

Timken Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Timken Co, 20% have issued a Strong Buy rating, 40% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Kennametal (NYSE:KMT) is the third best tool & accessory stock with a Zen Score of 52, which is 14 points higher than the tool & accessory industry average of 38. It passed 18 out of 38 due diligence checks and has strong fundamentals. Kennametal has seen its stock return 16.35% over the past year, overperforming other tool & accessory stocks by 4 percentage points.

Kennametal has an average 1 year price target of $27.83, an upside of 14.02% from Kennametal's current stock price of $24.41.

Kennametal stock has a consensus Hold recommendation according to Wall Street analysts. Of the 3 analysts covering Kennametal, 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.

Out of 9 tool & accessory stocks that have issued dividends in the past year, the 3 tool & accessory stocks with the highest dividend yields are:

Chicago Rivet & Machine Co (NYSEMKT:CVR) has an annual dividend yield of 4.16%, which is 1 percentage points higher than the tool & accessory industry average of 2.68%. 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 225.6% indicates that its dividend yield might not be sustainable for the long-term.

Stanley Black & Decker (NYSE:SWK) has an annual dividend yield of 3.84%, which is 1 percentage points higher than the tool & accessory industry average of 2.68%. 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 58.8% indicates that its dividend yield is sustainable for the long-term.

Kennametal (NYSE:KMT) has an annual dividend yield of 3.28%, which is 1 percentage points higher than the tool & accessory industry average of 2.68%. 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 54.4% indicates that its dividend yield is sustainable for the long-term.

Tool & accessory stocks were up 0.35% in the last day, and down -2.17% over the last week.

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

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 41 points higher than the tool & accessory industry average of 30. It passed 5 out of 7 valuation due diligence checks.

Starrett L S Co's stock has gained 23.98% in the past year. It has overperformed other stocks in the tool & accessory industry by 11 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 43, which is 13 points higher than the tool & accessory industry average of 30. It passed 3 out of 7 valuation due diligence checks.

Kennametal's stock has gained 16.35% in the past year. It has overperformed other stocks in the tool & accessory industry by 4 percentage points.

Eastern Co (NASDAQ:EML) is the third most undervalued tool & accessory stock based on WallStreetZen's Valuation Score. Eastern Co has a valuation score of 43, which is 13 points higher than the tool & accessory industry average of 30. It passed 3 out of 7 valuation due diligence checks.

Eastern Co's stock has gained 0.49% in the past year. It has underperformed other stocks in the tool & accessory industry by -12 percentage points.