Profit Warning Sends Water Pik Shares Down
Water Pik Technologies Inc.’s shares slumped 14.4% Wednesday, a day after the Newport Beach company warned of lower results for the year because of lower sales in its personal health care division. An analyst also downgraded the shares.
The stock fell $1.25 to $7.44 a share on the New York Stock Exchange.
The shares were downgraded to “accumulate” from “buy” by analyst Rommel T. Dionisio at Friedman, Billings, Ramsey & Co.
Water Pik makes pool products and heating systems as well as personal health products.
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