Shares in Guitar Center Inc. got an 11 percent boost Tuesday after a report surface that the retailer had hired an adviser; prompting many to speculate the nation’s largest music equipment retailer was considering a sale.

The surge comes less than a month after the Westlake Village-based company reported a 6 percent hike in profits along with a 14 percent up tick in sales for the first quarter of 2007.

Guitar Centers did not immediately return a phone call seeking comment.

Shares gained $5.04 per share to close at $52.47 Tuesday and continued to gain another $1 per share in afternoon trading Wednesday to $53.45. Shares have gained more than 23 percent so far this year.