Airtel Africa (LON:AAF) Hits New 12-Month High – What’s Next?

Airtel Africa Plc (LON:AAF) reached a new 52-week high on Tuesday . The company traded as high as GBX 162.20 ($2.10) and last traded at GBX 162 ($2.09), with a volume of 1404733 shares traded. The stock had previously closed at GBX 159.60 ($2.06).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price objective on Airtel Africa from GBX 121 ($1.56) to GBX 128 ($1.65) and gave the company a “buy” rating in a research report on Wednesday, December 11th.

Airtel Africa Price Performance

The company has a debt-to-equity ratio of 275.30, a current ratio of 0.47 and a quick ratio of 0.26. The stock has a market capitalization of £7.44 billion, a price-to-earnings ratio of -95.41, a PEG ratio of 0.58 and a beta of 1.04. The stock’s 50 day simple moving average is GBX 141.52 and its 200-day simple moving average is GBX 121.

Insider Activity at Airtel Africa

In other news, insider Shravin Bharti Mittal purchased 15,000,000 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of GBX 105 ($1.36) per share, with a total value of £15,750,000 ($20,351,466.60). Also, insider Sunil Bharti Mittal acquired 163,582,576 shares of Airtel Africa stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of GBX 132 ($1.71) per share, with a total value of £215,929,000.32 ($279,014,084.92). 72.58% of the stock is owned by company insiders.

Airtel Africa Company Profile

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.