Stock Analysts’ downgrades for Thursday, October 5th:

Celgene Corporation (NASDAQ:CELG) was downgraded by analysts at Morgan Stanley from an equal weight rating to an underweight rating.

Coach (NYSE:COH) was downgraded by analysts at Piper Jaffray Companies from an overweight rating to a neutral rating.

GrubHub (NASDAQ:GRUB) was downgraded by analysts at Citigroup Inc. from a buy rating to a neutral rating.

Hamilton Lane (NASDAQ:HLNE) was downgraded by analysts at Morgan Stanley from an overweight rating to an equal weight rating.

CarMax (NYSE:KMX) was downgraded by analysts at UBS AG from an outperform rating to a market perform rating.

CarMax (NYSE:KMX) was downgraded by analysts at Oppenheimer Holdings, Inc. from an outperform rating to a market perform rating.

Legg Mason (NYSE:LM) was downgraded by analysts at Morgan Stanley from an equal weight rating to an underweight rating.

Navient Corporation (NASDAQ:NAVI) was downgraded by analysts at Compass Point from a buy rating to a neutral rating.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) was downgraded by analysts at Stephens from an overweight rating to an equal weight rating. They noted that the move was a valuation call. The analysts noted that the move was a valuation call.

RPC (NYSE:RES) was downgraded by analysts at Jefferies Group LLC from a buy rating to a hold rating.

Swisscom AG (OTCMKTS:SCMWY) was downgraded by analysts at Berenberg Bank from a hold rating to a sell rating.

SOUTH32 LTD SPON (NASDAQ:SOUHY) was downgraded by analysts at UBS AG from a buy rating to a neutral rating.

Universal Electronics (NASDAQ:UEIC) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Universal Electronics Inc. is the worldwide leader in universal control and sensing technologies for the smart home. Its offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions, which enable devices, such as televisions, set-top boxes, stereos, smart phones, tablets, gaming controllers, and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services to control and deliver digital entertainment and information. It also provides proprietary and standards-based RF sensors for residential security, safety, and automation applications; and audio-video accessories, trademarks, and database of home connectivity software and control codes. It serves cable and satellite television service providers; original equipment manufacturers; software development companies; subscription broadcasting providers. “

UGI Corporation (NYSE:UGI) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “UGI Corporation is a holding company that operates propane distribution, gas and electric utility, energy marketing and related businesses through subsidiaries. Our majority-owned subsidiary, AmeriGas Partners, L.P., a Delaware limited partnership, conducts one of the nation’s largest retail propane distribution businesses through its subsidiary AmeriGas Propane, L.P. “

United Insurance Holdings Corp. (NASDAQ:UIHC) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “United Insurance Holdings Corp., together with its subsidiaries, operates as a property and casualty insurance company. It primarily offers homeowners and dwelling fire insurance policies, as well as provides flood insurance through the National Flood Insurance Program. From its headquarters in St. Petersburg, United’s team of dedicated employees manages a completely integrated insurance company, including sales, underwriting, policyholder service and claims. It principally markets its products through insurance agents. “

The Ultimate Software Group (NASDAQ:ULTI) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “The Ultimate Software Group, Inc. (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

UNICREDIT SPA NPV (POST REV SPLIT) (NASDAQ:UNCFF) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “UniCredit SpA is a commercial bank. It offers banking, asset management, pension fund, brokerage, leasing, factoring, transactional advisory, money markets and currency exchange, investment project financing, mergers and acquisitions, and debt securities issue services. The company operates primarily in Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Germany, Hungary, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine. UniCredit SpA is headquartered in Milan, Italy. “

Unit Corporation (NYSE:UNT) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “UNIT CORP. is engaged in the land contract drilling of oil and natural gas wells, the development, acquisition and production of oil and natural gas properties, and the marketing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. “

United Parcel Service (NYSE:UPS) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “United Parcel Service is leaving no stone unturned to perform well in the upcoming holiday season. It expects to benefit from the growth in e-commerce. Additionally, growth in export shipments continue to boost the company. Moreover, UPS' efforts to reward its shareholders are impressive. The company hiked quarterly dividend by 6.4% earlier this year. Its expansion efforts also raise optimism. The company is, however, being troubled by headwinds like higher costs and foreign exchange-related issues. It expects 2017 adjusted earnings per share in the band of $5.80 to $6.10, which includes $400 million of pre-tax currency headwinds. Moreover, the increased costs from investments made to upgrade facilities may hurt its bottom line. Shares of UPS have underperformed its industry in a year.”

Marriot Vacations Worldwide Corporation (NYSE:VAC) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “

Veracyte (NASDAQ:VCYT) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Veracyte, Inc. is a diagnostics company. It is focused on discovering, developing and commercializing molecular cytology solutions. The Company provides Afirma Thyroid FNA Analysis, which helps physicians in reducing unnecessary diagnostic surgeries for patients with thyroid nodules. Veracyte is also developing Afirma Malignant GEC test. It serves endocrinologists, radiologists, and head and neck specialists. Veracyte, Inc. is headquartered in South San Francisco, California. “

VEREIT (NYSE:VER) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “

Valley National Bancorp (NYSE:VLY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Valley National Bancorp is a bank holding company whose principal subsidiary is Valley National Bank. Valley National Bank provides a full range of commercial and retail banking services through branch offices located in northern New Jersey. These services include the following: the acceptance of demand, savings and time deposits; extension of consumer, real estate, Small Business Administration and other commercial credits; title insurance; investment services; and full personal and corporate trust, as well as pension and fiduciary services. “

Vanda Pharmaceuticals (NASDAQ:VNDA) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of clinical-stage product candidates for central nervous system disorders. It is developing important new medicines to improve the lives of patients. It uses new technologies, including genetics & genomics, to inform our drug discovery, our clinical trials, and our commercial positioning of our compounds. The Company has three product candidates in clinical development. It’s lead product candidate, iloperidone, is a compound for the treatment of schizophrenia & bipolar disorder & is in a Phase III clinical trial for schizophrenia. It’s second product candidate, is a compound for the treatment of insomnia & depression which is currently in a Phase III clinical trial for insomnia. It’s third product candidate, is a compound for the treatment of excessive sleepiness & is ready for a Phase II clinical trial. “

Vonovia Se Unspn (NASDAQ:VONOY) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Vonovia SE provides real estate services. Its operating segment consists of Rental, Extension and Sales. The Company manages, leases and sells apartments. Vonovia SE is headquartered in Bochum, Germany. “

Varonis Systems (NASDAQ:VRNS) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “

Vital Therapies (NASDAQ:VTL) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Vital Therapies, Inc. is a biotherapeutic company. It is focused on developing a cell-based therapy targeting the treatment of acute liver failure. The Company operates in the United States, Europe, and China. Vital Therapies, Inc. is based in San Diego, California. “

vTv Therapeutics (NASDAQ:VTVT) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “vTv Therapeutics Inc. is a biopharmaceutical company which is engaged in the discovery and development of orally administered small molecule drug candidates to fill unmet medical needs. Its drug candidate for the treatment of Alzheimers disease includes azeliragon TTP488, which is in Phase III clinical trials; type II diabetes drug candidates include Glucokinase Activator TTP399 and GLP-1r Agonist TTP273 which completed Phase I clinical trials; products for the prevention of muscle weakness and treatment of inflammatory disorders include HPP593, HPP737 and HPP971 which is in Phase1 clinical trials. The Company’s drug discovery platform consists of TTP Translational Technology. vTv Therapeutics Inc. is headquartered in High Point, North Carolina. “

VWR Corporation (NASDAQ:VWR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “VWR’s second-quarter earnings report was quite impressive, with both the top and the bottom line beating the Zacks Consensus Estimate. Geographically, the company recorded growth in Americas during the reported quarter driven by strong sales of equipment and instrumentation. Management is also looking forward to the long-term synergy benefits from the proposed merger with Avantor. The merger is expected to strengthen VWR’s business across the Americas and Europe. While we await the merger to close in the fourth quarter of 2017 we note that the stock price has already reached close to Avantor’s offer price and hence the short-term upside potential of VWR is limited now. On the flip side, a drop in EMEA-APAC sales was disappointing. Moreover, foreign currency was a major dampener. VWR’s poor margin scenario also raises concern.”

Wendy’s Company (The) (NASDAQ:WEN) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Wendy’s revenues have been declining year over year over the past few quarters. The downside reflects a reduction in the number of company-operated restaurants. Though transition to a franchise-based business model is expected to lower Wendy’s general and administrative expenses and in turn boost earnings, 2017 onwards, it has been weighing on revenues in the near term. Nonetheless, various sales and technology initiatives along with international expansion of units are expected to drive growth. Meanwhile, Wendy’s shares have outperformed the industry over the past three months. However, earnings estimates for the current quarter and year have declined over the past two months, reflecting analysts’ pessimism about the stock’s prospects. Rising costs, incremental capital spending along with a soft industry backdrop add to the concerns.”

Western Gas Partners, (NYSE:WES) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “WESTERN GAS PARTNERS is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. “

WisdomTree Investments (NASDAQ:WETF) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “INDIVIDUAL INVESTOR GROUP INC. is an information services company that publishes and markets Individual Investor magazine and Individual Investor’s Special Situations Report. In addition, the Company, through wholly owned subsidiaries, is the investment manager of private investment funds. “

WGL Holdings (NYSE:WGL) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “WASHINGTON GAS LIGHT CO is a public utility that delivers and sells natural gas to metropolitan Washington, D.C. and adjoining areas in Maryland and Virginia. A distribution subsidiary serves portions of Virginia and West Virginia. The Company has four wholly-owned active subsidiaries that include: Shenandoah Gas Company (Shenandoah) is engaged in the delivery and sale of natural gas at retail in the Shenandoah Valley, including Winchester, Middletown, Strasburg, Stephens City and New Market, Virginia, and Martinsburg, West Virginia. “

Western Gas Equity Partners, (NYSE:WGP) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

William Hil Adr (OTCMKTS:WIMHY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “William Hill PLC provides sports betting and gaming services. It offers licensed betting offices, telephone based-betting operations and online betting, offers odds and takes bets on an assortment of sporting and other events. The company operates primarily in the United Kingdom, Australia, the United States, Italy and Spain. William Hill PLC is headquartered in London, the United Kingdom. “

Windstream Holdings (NYSE:WIN) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Over the past three months, share price of Windstream declined 48.4% as against the industry's 4.1% gain. Wireless competition has resulted in a reduction in the company’s access lines. Windstream also remains under pressure with losses in the wholesale business, technological changes and its related expenses, highly leveraged balance sheet, diminishing access lines and stringent regulatory measures. However, we appreciate Windstream’s focus on improving sales and cutting costs which should rake in profits and check churn. Windstream’s cloud-to-cloud disaster recovery management solutions replicate mission-critical virtual servers and data. Launch of Kinetic TV services and merger with EarthLink Holdings also bode well. Expansion of its metro fibre network business in the newer areas and aim to extend the deployment of G.fast technologies over traditional copper telephone wires bode well.”

Watsco (NYSE:WSO) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Watsco is anticipated to benefit in the third quarter 2017 from the Russell Sigler acquisition. E-commerce sales growth and growth potential in the replacement market will also drive near-term performance. Watsco’s supply chain optimization will improve fill-rates, increase inventory turns and reduce infrastructure costs over the long term. The company is likely to benefit from the expansion of its product offerings, as well as logistical and productivity improvements. Over the past year, Watsco has outperformed the industry. Its estimates have moved up lately. However, the company's performance will be hurt by foreign currency headwinds, volume issue in Canada and seasonal factors in the near term.”

Wolters Kluwer (NASDAQ:WTKWY) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “WOLTERS KLUWER is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer maintains operations in over 33 countries across Europe, North America, and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. “

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