Airtel Africa (LON:AAF) Reaches New 1-Year High – Here’s What Happened

Airtel Africa Plc (LON:AAF)’s stock price reached a new 52-week high during mid-day trading 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. The stock had previously closed at GBX 146.90 ($1.90).

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 report on Wednesday, December 11th.

Airtel Africa Stock Performance

The stock’s 50-day moving average price is GBX 136.50 and its 200-day moving average price is GBX 119.21. The company has a market capitalization of £7.05 billion, a price-to-earnings ratio of -90.47, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a debt-to-equity ratio of 275.30, a quick ratio of 0.26 and a current ratio of 0.47.

Insider Activity at Airtel Africa

In other Airtel Africa news, 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 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 acquired 163,582,576 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of GBX 132 ($1.71) per share, with a total value 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.