Airtel Africa (LON:AAF) Hits New 52-Week High – Time to Buy?

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

Analyst Upgrades and Downgrades

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

Airtel Africa Stock Up 1.6 %

The stock has a fifty day moving average of GBX 141.52 and a 200-day moving average of GBX 121. The firm 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 company has a current ratio of 0.47, a quick ratio of 0.26 and a debt-to-equity ratio of 275.30.

Insider Buying and Selling

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