Notable Downgrades: GoPro (GPRO), SkyWest Inc. (SKYW), VMware (VMW), JetBlue (JBLU), United Technologies (UTX)

GoPro, Inc. (GPRO) was reiterated as ‘Buy’ on Tuesday by Dougherty & Company. The firm however, lowered its price target on the name to $32 from $70, noting it is cutting their second-half 2015, full fiscal year 2016 and 2017 camera revenue estimates significantly in the face of overwhelming evidence of a slowdown in demand for GoPro cameras. Dougherty & Co. also said it expects GPRO to miss Q315 estimates and guide below consensus for Q415.

GPRO shares recently lost 0.20 to $28.26. In the past 52 weeks, shares of San Mateo, California-based company have traded between a low of $27.07 and a high of $87.50.

Shares are down 66.54% year-over-year 55% and year-to-date.

SkyWest Inc. (SKYW) was downgraded from ‘Outperform’ to ‘Market Perform’ at Raymond James.

Shares have traded today between $17.10 and $18.48 with the price of the stock fluctuating between $7.15 to $19.52 over the last 52 weeks.

Skywest Inc. shares are currently changing hands at 16.61x this year’s forecasted earnings, compared to the industry’s 10.47x earnings multiple. Ticker has a t-12 price/sales ratio of 0.30. EPS for the same period registers at $1.06.

Shares of SKYW have lost $1.70 to $17.56 in midday trading on Tuesday, giving it a market cap of roughly $889 million. The stock traded as high as $19.52 in Oct. 12, 2015.

VMware, Inc. (VMW) had its rating lowered from ‘Market Outperform’ to ‘Market Perform’ by analysts at JMP Securities on Tuesday. Currently there are 20 analysts that rate VMW a ‘Buy’, 1 analyst rates it a ‘Sell’, and 14 rate it a ‘Hold’.

VMW was down $2.88 at $69.39 in midday trade, moving within a 52-week range of $68.28 to $93.43. The name, valued at $29.29 billion, opened at $70.86.

On valuation measures, VMware Inc. shares are currently priced at 33.65x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 4.82. EPS for the same period registers at $2.06.

JetBlue Airways Corporation (JBLU) was downgraded by JP Morgan (JPM) from a ‘Overweight’ rating to a ‘Neutral’ rating due to weak industry pricing.

JBLU closed at $26.86 on Monday and is currently trading down $2.01.

Over the past year, shares of the air carrier have traded between a low of $9.52 and a high of $27.36 and are now trading at $24.85.

Shares are up 167.00% year-over-year and 69.36% year-to-date.

Analysts at RBC Capital Markets downgraded United Technologies Corporation (UTX) from ‘Outperform’ to ‘Sector Perform’ in a research report issued to clients on Tuesday.

The target price for UTX is lowered from $113 to $100.

On valuation measures, United Technologies Corp. stock it’s trading at a forward P/E multiple of 14.04x, and at a multiple of 13.54x this year’s estimated earnings. The t-12-month revenue at United Technologies is $64.04 billion. UTX ‘s ROE for the same period is 19.81%.

Shares of the $84.12 billion market cap company are down 2.31% year-over-year and 15.56% year-to-date.

United Technologies Corp., currently with a median Wall Street price target of $108.00 and a high target of $125.00, dropped $0.98 to $94.45 in recent trading.

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