Freddie Mac (OTCMKTS:FMCC) Price Target Cut to $3.50 by Analysts at Keefe, Bruyette & Woods

Freddie Mac (OTCMKTS:FMCC) had its target price dropped by analysts at Keefe, Bruyette & Woods from $6.50 to $3.50 in a note issued to investors on Monday, Benzinga reports. The firm 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.

Several other research firms also recently weighed in on FMCC. BTIG Research downgraded shares of Freddie Mac from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Wedbush initiated coverage on shares of Freddie Mac in a research note on Friday, July 31st. They set an “outperform” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.12.

Freddie Mac Trading Down 4.1%

Shares of FMCC stock traded down $0.17 during trading hours on Monday, reaching $3.99. 2,692,598 shares of the company’s stock were exchanged, compared to its average volume of 2,603,138. Freddie Mac has a fifty-two week low of $3.40 and a fifty-two week high of $13.20. The stock’s 50 day moving average is $5.30 and its 200-day moving average is $5.79. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 399.40 and a beta of 1.73.

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.