Zacks Investment Research upgraded shares of Blue Nile Inc. (NASDAQ:NILE) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Blue Nile Inc is the leading online retailer of diamonds and fine jewelry. It has built a well respected brand by providing consumers with a better way to buy diamonds and fine jewelry. Blue Nile has established some of the highest quality standards in the industry and provides consumers with in-depth educational materials and unique online tools that place consumers in control of the jewelry shopping process. The Blue Nile websites showcase thousands of independently certified diamonds and fine jewelry at prices significantly below traditional retail. “

A number of other equities research analysts have also issued reports on the company. TheStreet raised Blue Nile from a hold rating to a buy rating in a research note on Monday, September 12th. William Blair reaffirmed a market perform rating on shares of Blue Nile in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $25.67.

Analyst Recommendations for Blue Nile (NASDAQ:NILE)

Shares of Blue Nile (NASDAQ:NILE) opened at 35.59 on Wednesday. The stock has a 50 day moving average price of $35.24 and a 200-day moving average price of $29.28. Blue Nile has a 52 week low of $22.33 and a 52 week high of $39.00. The firm has a market capitalization of $413.41 million, a PE ratio of 40.81 and a beta of 0.46.

Blue Nile (NASDAQ:NILE) last posted its earnings results on Monday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.03. Blue Nile had a net margin of 2.14% and a return on equity of 71.40%. The company earned $113.77 million during the quarter, compared to analysts’ expectations of $113.95 million. During the same period in the previous year, the company posted $0.20 EPS. Blue Nile’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that Blue Nile will post $0.88 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Blue Nile by 1.1% in the second quarter. Vanguard Group Inc. now owns 907,683 shares of the company’s stock valued at $24,852,000 after buying an additional 9,698 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Blue Nile by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 391,821 shares of the company’s stock valued at $10,728,000 after buying an additional 1,113 shares in the last quarter. Hosking Partners LLP increased its stake in shares of Blue Nile by 15.1% in the second quarter. Hosking Partners LLP now owns 183,420 shares of the company’s stock valued at $5,022,000 after buying an additional 24,029 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Blue Nile during the second quarter valued at about $2,882,000. Finally, Geode Capital Management LLC increased its stake in shares of Blue Nile by 1.5% in the first quarter. Geode Capital Management LLC now owns 82,932 shares of the company’s stock valued at $2,132,000 after buying an additional 1,220 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

About Blue Nile

Blue Nile, Inc is an online retailer of diamonds and fine jewelry. The Company operates through the online retail jewelry segment. It sells its products through the Blue Nile Website in over 40 countries and territories across the world. Its domestic sales consist of products delivered to customers within the United States and its international sales consist of products delivered to customers outside the United States.

5 Day Chart for NASDAQ:NILE

Receive News & Stock Ratings for Blue Nile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Nile Inc. and related stocks with our FREE daily email newsletter.