Downgrade takes a bite out of Eaton Vance

Boston-based Eaton Vance Corp. slumped, dropping up to 7.7 percent earlier in the session, the most intraday since Aug. 8. The mutual fund manager was downgraded by analysts at Ticonderoga Securities to “sell’’ from “neutral.’’ “We believe the shares are in the process of repricing based on a lower-than-expected organic growth rate,’’ wrote the analysts in a research note. The analysts said they expect that growth rate to fall “over the next several quarters.’’ The analysts said poor stock fund flows due to relatively weak performance and slower flows into municipal bond funds would add to the slowdown.