NEW YORK (TheStreet) -- Shares of Buffalo Wild Wings (BWLD)  were down in late morning trading on Tuesday despite the Columbus, OH-based restaurant and sports bar chain announcing today it would boost its share repurchase program to $375 million.

Approximately $75 million of Buffalo Wild Wings' previous $200 million share repurchase program remains, the company said. The new $300 million repurchase replaces the previous $200 million program. 

Buffalo Wild Wings is funding the program using cash and debt. 

Last month, the company reported better-than-expected second quarter earnings of $1.27 per share, beating analysts' projections by a penny. Revenue came in at $490.2 million, missing Wall Street's expectations of $498.32 million. 

Additionally, Marcato Capital Management recently announced a 5.1% stake in Buffalo Wild Wings, representing 950,000 shares. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate BUFFALO WILD WINGS INC as a Buy with a ratings score of B. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, good cash flow from operations, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins.

You can view the full analysis from the report here:


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