Freddie Mac (OTCMKTS:FMCC) Upgraded to “Strong-Buy” at BTIG Research

BTIG Research upgraded shares of Freddie Mac (OTCMKTS:FMCC) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

FMCC has been the topic of several other research reports. Wedbush upgraded Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price target on the stock in a research note on Friday, December 12th. Zacks Research upgraded Freddie Mac to a “hold” rating in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.84.

Freddie Mac Stock Performance

FMCC stock traded down $0.37 during trading on Monday, reaching $7.31. The company had a trading volume of 1,856,401 shares, compared to its average volume of 2,743,686. Freddie Mac has a twelve month low of $4.05 and a twelve month high of $14.99. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -730.50 and a beta of 1.84. The firm has a 50-day simple moving average of $9.70 and a 200-day simple moving average of $9.82.

About Freddie Mac

Freddie Mac (OTCMKTS:FMCC), officially the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise chartered by Congress in 1970 to enhance liquidity and stability in the U.S. housing finance system. Headquartered in McLean, Virginia, the company operates under the supervision of the Federal Housing Finance Agency (FHFA) and carries a congressional mandate to support affordable, sustainable homeownership and rental housing markets nationwide.

The company’s primary business activities involve purchasing mortgage loans from approved lenders, pooling them into mortgage-backed securities (MBS), and guaranteeing the timely payment of principal and interest to investors.