Airtel Africa (LON:AAF) Reaches New 12-Month High – Here’s Why

Airtel Africa Plc (LON:AAFGet Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as GBX 129 ($1.59) and last traded at GBX 128.80 ($1.59), with a volume of 9207708 shares trading hands. The stock had previously closed at GBX 127 ($1.57).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price on shares of Airtel Africa from GBX 121 ($1.49) to GBX 128 ($1.58) and gave the stock a “buy” rating in a report on Wednesday, December 11th.

View Our Latest Report on AAF

Airtel Africa Price Performance

The stock has a 50 day moving average of GBX 109.38 and a 200-day moving average of GBX 111.86. The stock has a market capitalization of £4.70 billion, a P/E ratio of -4,243.33, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The company has a current ratio of 0.52, a quick ratio of 0.26 and a debt-to-equity ratio of 180.85.

Insider Activity

In related news, insider Shravin Bharti Mittal bought 804,887 shares of Airtel Africa stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of GBX 96 ($1.19) per share, with a total value of £772,691.52 ($954,411.46). Over the last ninety days, insiders purchased 16,493,062 shares of company stock valued at $1,719,710,302. 72.58% of the stock is currently owned by company insiders.

About Airtel Africa

(Get Free Report)

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.

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