NEW YORK (TheStreet) -- Shares of Advanced Auto Parts Inc. (AAP) are higher by 4.12% to $127.99 after the company reported an increase in net income for the 2014 second quarter to $139.49 million, or 1.89 per share, compared to $116.87 million, or 1.59 per share for the same period in 2013.
The company, which is a specialty retailer of automotive aftermarket parts, accessories, batteries, and other maintenance items, posted a 51.5% growth in total sales to $2.35 billion versus the $1.55 billion reported for the 2013 second quarter.
The company listed several factors that resulted in its strong financial results including the purchase of General Parts Inc., the addition of new stores over the last 12 months, and a 2.6% rise in same store sales.
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Separately, TheStreet Ratings team rates ADVANCE AUTO PARTS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADVANCE AUTO PARTS INC (AAP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
You can view the full analysis from the report here: AAP Ratings Report