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

Shares of Airtel Africa Plc (LON:AAF) hit a new 52-week high on Thursday . The stock traded as high as GBX 149 ($1.93) and last traded at GBX 148.80 ($1.92), with a volume of 1994971 shares trading hands. The stock had previously closed at GBX 146.90 ($1.90).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised their price target 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 Up 2.6 %

The firm has a market cap of £7.05 billion, a price-to-earnings ratio of -90.47, a PEG 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 firm has a fifty day moving average price of GBX 136.50 and a 200-day moving average price of GBX 119.21.

Insider Buying and Selling

In related news, insider Shravin Bharti Mittal bought 15,000,000 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of GBX 105 ($1.36) per share, for a total transaction of £15,750,000 ($20,372,526.19). Also, insider Sunil Bharti Mittal purchased 163,582,576 shares of the business’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of GBX 132 ($1.71) per share, for a total transaction of £215,929,000.32 ($279,302,807.30). 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.