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

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted 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 note on Wednesday, December 11th.

Airtel Africa Stock Down 1.7 %

The stock has a market capitalization of £7.55 billion, a price-to-earnings ratio of -96.88, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The company has a quick ratio of 0.26, a current ratio of 0.47 and a debt-to-equity ratio of 275.30. The stock has a 50 day moving average price of GBX 147.30 and a 200 day moving average price of GBX 123.59.

Insider Buying and Selling

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