NEW YORK (TheStreet) -- Shares of Zoe's Kitchen (ZOES)  closed down 17.32% to $30.84 on Tuesday as Credit Suisse reduced its price target on the stock to $30 from $32 this morning after the company posted weaker-than-anticipated second quarter revenues. 

The firm maintained its "underperform" rating on shares of the Plano, TX-based fast-casual restaurant company. 

After yesterday's closing bell, Zoe's Kitchen reported 2016 second-quarter revenues of $66.3 million, falling short of analysts' projected $67.3 million, and in-line earnings of 6 cents per share.

The company lowered its full-year sales guidance to be in the range of $277 million to $280 million, down from its prior outlook of $277 million to $281 million. Wall Street is looking $280 million in revenue for 2016. 

Credit Suisse noted that Zoe's Kitchen management expects same-store sales to rise between 4% and 5% for the full year, lower than its previous projections of a 4.5% to 6% increase. 

As a result, the firm lowered its same-store sales forecast for the third quarter to an increase of 2.1%, down from an increase of 4%. 

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 ZOE'S KITCHEN INC as a Hold with a ratings score of C-. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins.

You can view the full analysis from the report here:

ZOES

ZOES data by YCharts

Image placeholder title