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

Airtel Africa Plc (LON:AAF)’s share price hit a new 52-week high on Tuesday . The stock traded as high as GBX 166.80 ($2.17) and last traded at GBX 165.90 ($2.15), with a volume of 715913 shares. The stock had previously closed at GBX 165.60 ($2.15).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on shares of Airtel Africa from GBX 121 ($1.57) to GBX 128 ($1.66) and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Airtel Africa Trading Down 1.7 %

The stock has a market capitalization of £7.55 billion, a P/E ratio of -96.88, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a current ratio of 0.47, a quick ratio of 0.26 and a debt-to-equity ratio of 275.30. The business has a 50-day moving average price of GBX 147.30 and a two-hundred day moving average price of GBX 123.59.

Insider Buying and Selling

In other news, insider Sunil Bharti Mittal acquired 163,582,576 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average cost of GBX 132 ($1.71) per share, for a total transaction of £215,929,000.32 ($280,390,858.75). 72.58% of the stock is currently 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.