NEW YORK (TheStreet) -- Shares of Krispy Kreme Doughnuts  (KKD) have begun to rally Thursday afternoon after being down slightly earlier in the day. The stock reached a low of $19.60 but at last check was trading at $20.30, up 2.1%.

Krispy Kreme shares have seen a 30% rise over the past year and the North Carolina-based company announced that it is raising the amount of shares it plans to buy back to 80 million from 50 million.

Despite the company missing fourth-quarter earnings, shares after-hours on Wednesday rose 11%. Krispy Kreme raised its fiscal 2015 earnings outlook to 73 cents to 79 cents a share, up from earlier estimates of 71 cents to 76 cents. Analysts expect 75 cents a share.

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TheStreet Ratings team rates KRISPY KREME DOUGHNUTS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about its recommendation:

"We rate KRISPY KREME DOUGHNUTS INC (KKD) a BUY. This is driven by several positive factors, 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, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

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