Freddie Mac (OTCMKTS:FMCC) Stock Price Target Cut by Keefe, Bruyette & Woods

Freddie Mac (OTCMKTS:FMCC) had its price target lowered by Keefe, Bruyette & Woods from $6.50 to $3.50 in a report released on Monday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 12.28% from the stock’s current price.

FMCC has been the topic of several other reports. BTIG Research lowered Freddie Mac from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Wedbush began coverage on Freddie Mac in a report on Friday, July 31st. They issued an “outperform” rating and a $12.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.12.

Freddie Mac Trading Down 4.1%

Shares of OTCMKTS FMCC traded down $0.17 during trading on Monday, reaching $3.99. 2,692,598 shares of the company traded hands, compared to its average volume of 2,603,138. The firm’s fifty day simple moving average is $5.30 and its 200 day simple moving average is $5.79. The stock has a market cap of $2.59 billion, a P/E ratio of 399.40 and a beta of 1.73. Freddie Mac has a 12-month low of $3.40 and a 12-month high of $13.20.

Freddie Mac Company Profile

Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a U.S. government-sponsored enterprise that supports liquidity, stability and affordability in the residential mortgage market. The company operates in the secondary mortgage market, purchasing qualifying mortgage loans from approved lenders and providing lenders with funds that can be used to make additional home loans.

Freddie Mac finances these activities primarily by pooling mortgages into mortgage-backed securities, including its mortgage participation certificates, and guaranteeing the timely payment of principal and interest to investors.