Airtel Africa (LON:AAF) Sets New 12-Month High – Time to Buy?

Airtel Africa Plc (LON:AAF) hit a new 52-week high on Tuesday . The stock traded as high as GBX 148.10 ($1.85) and last traded at GBX 147.50 ($1.84), with a volume of 10074582 shares. The stock had previously closed at GBX 145.20 ($1.82).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price target on Airtel Africa from GBX 121 ($1.51) to GBX 128 ($1.60) and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Airtel Africa Stock Performance

The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26. The firm has a fifty day moving average price of GBX 116.67 and a two-hundred day moving average price of GBX 113.01. The stock has a market capitalization of £5.37 billion, a PE ratio of -4,853.33, a P/E/G ratio of 0.58 and a beta of 1.04.

Insider Transactions at Airtel Africa

In other news, insider Shravin Bharti Mittal acquired 688,175 shares of Airtel Africa stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of GBX 98 ($1.23) per share, for a total transaction of £674,411.50 ($843,119.76). Over the last three months, insiders have acquired 16,493,062 shares of company stock worth $1,719,710,302. 72.58% of the stock is currently owned by company insiders.

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.