Freddie Mac (OTCMKTS:FMCC) Stock Gets Downgrade from Mizuho

Freddie Mac (OTCMKTS:FMCC) was downgraded by Mizuho from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $4.00 price objective on the stock. Mizuho’s price objective suggests a potential upside of 26.98% from the company’s previous close.

FMCC has been the subject of a number of other reports. Keefe, Bruyette & Woods decreased their price objective on Freddie Mac from $6.50 to $3.50 and set an “underperform” rating for the company in a report on Monday, September 28th. BTIG Research cut Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Finally, Wedbush started coverage on Freddie Mac in a research note on Friday, July 31st. They issued an “outperform” rating and a $12.00 target price on the stock. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.88.

Freddie Mac Stock Performance

Shares of FMCC opened at $3.15 on Monday. The firm has a market cap of $2.05 billion, a P/E ratio of 315.00 and a beta of 1.74. Freddie Mac has a twelve month low of $2.98 and a twelve month high of $12.06. The firm’s 50 day moving average price is $4.86 and its two-hundred day moving average price is $5.69.

About Freddie Mac

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.