Airtel Africa (LON:AAF) Sets New 52-Week High – Still a Buy?

Airtel Africa Plc (LON:AAF)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 130.87 ($1.63) and last traded at GBX 129 ($1.61), with a volume of 415799719 shares trading hands. The stock had previously closed at GBX 126 ($1.57).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on shares of Airtel Africa from GBX 121 ($1.51) to GBX 128 ($1.59) and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Airtel Africa Stock Performance

The firm has a market cap of £5.32 billion, a PE ratio of -4,810.00, a P/E/G ratio of 0.58 and a beta of 1.04. The stock has a 50-day moving average price of GBX 112.07 and a 200 day moving average price of GBX 112.17. The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26.

Insider Activity

In other news, insider Shravin Bharti Mittal acquired 688,175 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of GBX 98 ($1.22) per share, for a total transaction of £674,411.50 ($839,655.75). Insiders purchased a total of 16,493,062 shares of company stock valued at $1,719,710,302 in the last 90 days. 72.58% of the stock is currently owned by 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.