Freddie Mac (OTCMKTS:FMCC) Stock Moved Down to “Neutral” by Mizuho

Freddie Mac (OTCMKTS:FMCC) was downgraded by equities research analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research note issued on Monday, MarketBeat.com reports. They presently have a $4.00 target price on the stock. Mizuho’s price target points to a potential upside of 26.98% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Wedbush started coverage on Freddie Mac in a report on Friday, July 31st. They set an “outperform” rating and a $12.00 price objective on the stock. BTIG Research cut Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Freddie Mac from $6.50 to $3.50 and set an “underperform” rating for the company in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.88.

Freddie Mac Trading Down 14.4%

Shares of OTCMKTS FMCC opened at $3.15 on Monday. The firm has a market cap of $2.05 billion, a P/E ratio of 315.32 and a beta of 1.74. Freddie Mac has a 1-year low of $3.01 and a 1-year high of $12.08. The business’s 50 day moving average is $4.90 and its 200-day moving average is $5.70.

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. Chartered by Congress in 1970, the company operates in the secondary mortgage market rather than primarily originating mortgages directly with individual borrowers.

Freddie Mac purchases qualifying single-family and multifamily mortgages from approved lenders, providing those institutions with funds to make additional loans.