Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Office Depot (ODP) downgraded to Hold at Jefferies and to Sell at UBS while Staples (SPLS) was downgraded to Hold at Jefferies and Neutral at UBS after the merger was blocked and terminated. Jefferies analyst Daniel Binder said both companies are now vulnerable to secular decline and increased competition. UBS analyst Michael Lasser said Staples' earnings will likely stagnate while Office Depot's sales will likely continue trending downward. 2. Sapiens (SPNS) downgraded to Sell at Roth Capital by analyst Richard Baldry, who said software sales eroded steadily in 2015, leaving the company unwilling to break out software contribution any longer. 3. SeaWorld (SEAS) double downgraded to Underperform at Credit Suisse with analyst Benjamin Chaiken saying expectations for the company are ahead of themselves heading into the 2016 season. 4. Ross Stores (ROST) downgraded to Underweight at Piper Jaffray by analyst Neely Tamminga, who cited the weak consumer environment and said the shares could come under pressure should the first fiscal quarter underwhelm investors. 5. EPIRUS (EPRS) downgraded to Neutral at BTIG and Wedbush after yesterday's announcement of management changes and a strategic change in direction. Wedbush analyst Heather Behanna said 2016 will bring little news flow or clarity on pipeline progress outside of potential partnering activities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.