傲农生物603363股票2020目标价 603363股票机构评级 怎么样

发布时间:2020-03-02 23:00:01   来源:网络 关键词:603363股票

傲农生物股票目标价,傲农生物603363股票机构评级。傲农生物603363股票适合买入、卖出、增持,目标价是多少?傲农生物603363股票的评级、基本面、技术面、资金面。

傲农生物603363股票目标价

时间评级机构分析师目标价
  2019-08-06    东北证券    李瑶    31.80  
  2019-06-19    东北证券    李瑶    26.48  
  2019-05-22    东北证券    李瑶    26.48  
  2019-05-06    东北证券    李瑶    29.98  
  2019-04-10    太平洋证券    周莎    34.11  
  2019-02-18    太平洋证券    程晓东    13.46  
  2018-05-29    财达证券    卢文静,马克    20.07  

傲农生物603363股票目标价由各大证券机构分析评估得出,仅供参考。详情请看下文傲农生物603363股票机构评级详情。

傲农生物603363股票机构评级详情

2019-08-13,给予傲农生物(603363)【增持】评级

FUJIAN AONONG BIOLOGICAL TECHNOLOGY(603363):ACCELERATING PIG BREEDING CAPACITY GROWTH EXPANDING BALANCE SHEET RAPIDLY

类别:公司  机构:兴业证券股份有限公司  研究员:Chen Jiao/Mao Yifan  日期:2019-08-13

Company Profile

   Fujian Aonong Biological Technology Group Incorporation Limited operates as a feed productsmanufacturing company. The Company produces and sells pig feed, chicken feed, and other products.

   Fujian Aonong Biological Technology Group also provides veterinary medicine products. (Source:Bloomberg)

   Event

   Fujian Aonong Biological Technology (the company) registered its operating income of CNY 2.71 bn (-1%) and its net profit attributable to shareholders of CNY 21 mn (+27%), which was in line with ourprevious expectation.

   Comments

   Live hog sales grew rapidly, making small profits.

   With the earlier projects coming into operation successively, the production capacity of live pigsexpanded rapidly: 337,700 (+69%) heads of live hogs were sold in H119. In the first half of the year,the company sold 223,000 piglets (accounting for about 2/3) with the unit cost of CNY 25/kg and theaverage unit profit of CNY 105/head, and its piglet business contributed CNY 23 mn to the total profit.

   Hog sales vol. was 115,000 heads; since the company bought some piglets from outside its farms,some of its farms did not run at full capacity. The complete cost of pig breeding was relatively high,about CNY 14.3/kg, causing hog business to lose CNY 14 mn in the current period.

   Swine feed dragged down the sales vol. and gross margin of the company’s feed pision, while othervarieties of feed were promoted smoothly and showed a rapid growth in sales vol.

   In H119, feed revenue was CNY 2.3 bn (-9%) and feed sales vol. reached 741,900 tons (-3%)。 Due tothe impacts of swine fever and industry cycle, sales vol. of swine feed declined. The company fullypromoted poultry feed, aquatic products, and ruminant feed, making their sales vol. increased by387% yoy. The feed gross margin was 13.33%, which was 1.56 pcts lower than the same period lastyear.

   The gross margin of feed business decreased slightly, mainly due to: 1) the sales vol. of pig feed withhigh gross margin was affected, and the sales vol. of other varieties increased, leading to a decline inan overall gross margin; 2) the low utilization rate of the company’s existing capacity resulted in a highmanufacturing cost and a decline in gross margin. Feed profit is estimated to be about CNY 12 mn.

   The balance sheet continued to expand rapidly.

   Since 2017, the company's major strategy has focused on the development of pig breeding, and itsbalance sheet has expanded rapidly. In H119, the number of pigs on hand reached 272,400 (+93.62%yoy)。 The productive biological assets in H119 were CNY 122 min (+80% yoy or +14% QoQ)。 Weestimate that the sows on hand for reproduction are close to 40,000 heads.

   According to the increase pace of the company's production capacity, we estimate that by the end ofthe year, the company can breed 60,000 sows for reproduction and 80,000 sows for bothreproduction and reservation, which will support the sales vol. plans of 900,000 and 1.5~2 mn sowsfor 2019 and 2020. In H119, the company’s projects under construction valued at CNY 378 million (+4% yoy or +39% from Q119), and fixed assets valued at CNY 1.31 bn (+ 47% yoy, +2% from Q119)。

   Earnings forecast and investment recommendations

   The company’s pig breeding business enjoys a strong start with high earnings elasticity, as the pigprice is expected to reach a new high in the current cycle. The company’s feed business alsodeveloped steadily. We estimate the company’s net profit attributable to shareholders to be CNY0.32/1.36/1.38 bn for year 19/20/21, implying a P/E ratio of 34/8/7.9x (based on the closing price ofAugust 5th, 2019)。 We maintain “Outperform” rating for the company.

   Potential risks: lower-than-expected pig prices; epidemic risks; less-than-expected sales vol.

更多傲农生物 (603363) 股票机构评级

2019-08-06,兴业证券给予傲农生物(603363)【增持】评级。

2019-08-06,东北证券给予傲农生物(603363)【买入】评级。目标价:31.80。分析师:李瑶

2019-06-19,东北证券给予傲农生物(603363)【买入】评级。目标价:26.48。分析师:李瑶

2019-06-03,长江证券给予傲农生物(603363)【买入】评级。

2019-05-22,东北证券给予傲农生物(603363)【买入】评级。目标价:26.48。分析师:李瑶

2019-05-10,长江证券给予傲农生物(603363)【买入】评级。

2019-05-06,东北证券给予傲农生物(603363)【买入】评级。目标价:29.98。分析师:李瑶

2019-04-26,兴业证券给予傲农生物(603363)【增持】评级。

2019-04-16,长江证券给予傲农生物(603363)【买入】评级。

2019-04-10,太平洋证券给予傲农生物(603363)【买入】评级。目标价:34.11。分析师:周莎

2019-02-18,太平洋证券给予傲农生物(603363)【买入】评级。目标价:13.46。分析师:程晓东

2018-05-29,财达证券给予傲农生物(603363)【增持】评级。目标价:20.07。分析师:卢文静,马克

【智能盯盘】 傲农生物KDJ金叉形态,股价涨0.99%

发布日期:2019-12-02

12月02日讯,傲农生物(603363)今日09时30分股价涨0.99%,报价16.36元,涨幅为0.99%,成交量0.04万手,换手率0.02%,振幅为0.93%,量比0.97

技术面:傲农生物(603363)股价位于60日均线下方,K线属于KDJ金叉形态,技术上属于强势走势。

资金面:截止今日09:30傲农生物(603363)主力流入26万元,主力流出26万元,主力净流入0万元。

基本面:傲农生物(603363)主营业务为2019三季报显示,其营业收入42.63亿元,同比增长0.76%;归属于上市公司股东的净利润4045.75万元,同比增长27.66%

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