Airtel Africa (LON:AAF) Sets New 12-Month High – Here’s Why

Airtel Africa Plc (LON:AAF) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 130.87 ($1.63) and last traded at GBX 129 ($1.61), with a volume of 415799719 shares traded. The stock had previously closed at GBX 126 ($1.57).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their target price on shares of Airtel Africa from GBX 121 ($1.51) to GBX 128 ($1.59) and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Airtel Africa Trading Up 8.5 %

The firm has a market cap of £5.32 billion, a price-to-earnings ratio of -4,810.00, 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 0.52 and a debt-to-equity ratio of 180.85. The business has a 50 day moving average price of GBX 112.07 and a 200-day moving average price of GBX 112.17.

Insider Buying and Selling at Airtel Africa

In other news, insider Shravin Bharti Mittal acquired 688,175 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of GBX 98 ($1.22) per share, with a total value of £674,411.50 ($839,655.75). Insiders bought 16,493,062 shares of company stock valued at $1,719,710,302 over the last 90 days. 72.58% of the stock is owned by corporate 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.