BMO Capital analyst Gerrick Johnson lowered his price target on Malibu Boats to $52 after its Q4 earnings miss, saying the company "uncharacteristically" moderated its expectations for retail sales to reflect its inventory growing "heavier" by a "few extra weeks". The analyst also notes that the management spent more time than usual discussing how well the company is positioned for the next downturn and guided "underwhelmingly" with a low-single digit decrease expected in organic unit shipments. Johnson is keeping his Outperform rating on Malibu Boats stock however, noting the company is still benefiting from an improving economy and recent popularity of wake surfing.