Freddie Mac (OTCMKTS:FMCC) Cut to Neutral at Mizuho

Mizuho cut shares of Freddie Mac (OTCMKTS:FMCC) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. Mizuho currently has $4.00 price objective on the stock.

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

Freddie Mac Stock Down 7.3%

OTCMKTS:FMCC opened at $2.92 on Monday. The business’s 50-day moving average price is $4.82 and its 200 day moving average price is $5.67. The firm has a market cap of $1.90 billion, a P/E ratio of 292.29 and a beta of 1.74. Freddie Mac has a 52-week low of $2.88 and a 52-week high of $12.06.

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.