NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Argus Research, an independent investment research firm, has launched Equity Research Report coverage on Dogness International (DOGZ).
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Highlights, as conveyed by Argus Analyst Steve Silver, include:
- DOGZ: An Emerging Global Leader in “Smart” Pet Products
- In our view, Dogness is well positioned to capitalize on favorable trends in the pet care industry, which has historically been insulated from recessions and economic cycle downturns.
- In December 2017, Dogness raised net proceeds of approximately $50.2 million from an initial public offering. The Company ended its fiscal year on June 30, 2018 with more than $35 million in cash and short-term investments, which we believe places Dogness on solid financial footing to execute on its growth strategy..
- Subsequent to the IPO, Dogness acquired a manufacturing facility in China and has launched a series of new “smart” pet products including connected collars, harnesses, feeders, and play robots, which we expect will drive robust revenue and bottom-line growth in the coming years.
- Trading at roughly 13X our EPS estimate of $0.27 for fiscal 2019, which we do not believe accurately reflects above-average revenue growth expectations (42% in fiscal 2018) and is limited by greater near-term investments and marketing spending, we view the shares as having upside and a fair value of $9.
INVESTMENT THESIS (partial excerpt below: click here to view the full Argus Report)
Dogness International, founded in 2003, is a designer and manufacturer of high-quality pet products, including leashes, harnesses and more recently, a suite of smart products that are designed to capitalize on the migration of consumer product trends towards connectivity and remote access. The Company has established an impressive track record of product innovation and is well positioned for long-term growth, in our view due to its fully integrated manufacturing chain, and established commercial infrastructure in its core China and the United States markets, to capitalize on the recession-proof nature of the pet industry.
About Dogness International (NGM:DOGZ) (www.dognesspet.com/en): Dogness International, founded in 2003, is a designer and manufacturer of high-quality pet products. These include leashes, harnesses and, more recently, a suite of smart products that are designed to capitalize on the migration of consumer product trends towards connectivity and remote access.
DOGZ Investor Relations Contact: Rose Zu, ICR Inc., Phone: 1-646-588-0383
About Argus Research Corp. Headquartered in NYC, Argus Research (www.argusresearch.com) is a leading independent equity research firm (est. 1934) ̶ providing fundamental and quantitative research coverage on more than 1,500 companies across all 11 sectors of the S&P 500, as well as macroeconomic and equity market forecasts, thematic research, model portfolios and pre-IPO research. In addition, Argus has recently committed to providing a sponsored research coverage solution for small & mid-cap companies seeking coverage. Our Asset Management, Bank Trust, sell-side advisor and self-directed investor clients value Argus’s proprietary equity research methodology, analysis and commentary. Argus’s Equity Research/earnings estimates are available on major research / earnings estimate aggregator platforms, including Bloomberg, Thomson Reuters, Factset and S&P Global.
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Argus Research Co. has received a flat fee from the company discussed in this report as part of a “Sponsored Research” agreement between Argus and the company. No part of Argus Research’s compensation is directly or indirectly related to the content of this assessment or to other opinions expressed in this report. Please refer to the full Argus report and the disclaimer for complete disclosures.