Blue Nile Inc. (NASDAQ:NILE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

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. “

NILE has been the topic of several other reports. TheStreet raised shares of Blue Nile from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. William Blair reaffirmed a “market perform” rating on shares of Blue Nile in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.50.

Shares of Blue Nile (NASDAQ:NILE) opened at 40.40 on Friday. The company’s 50-day moving average is $36.42 and its 200 day moving average is $31.34. Blue Nile has a 52 week low of $22.33 and a 52 week high of $41.39. The stock has a market cap of $469.29 million, a PE ratio of 46.33 and a beta of 0.02.

Blue Nile (NASDAQ:NILE) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Blue Nile had a return on equity of 59.32% and a net margin of 2.02%. The business had revenue of $105.10 million for the quarter, compared to analysts’ expectations of $107.75 million. During the same period in the previous year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts forecast that Blue Nile will post $0.87 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its stake in shares of Blue Nile by 15.4% in the second quarter. Prudential Financial Inc. now owns 52,229 shares of the company’s stock valued at $1,430,000 after buying an additional 6,980 shares during the period. Dimensional Fund Advisors LP boosted 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 during the period. Systematic Financial Management LP boosted its stake in shares of Blue Nile by 9.8% in the second quarter. Systematic Financial Management LP now owns 57,220 shares of the company’s stock valued at $1,566,000 after buying an additional 5,115 shares during the period. Bradley Foster & Sargent Inc. CT bought a new stake in shares of Blue Nile during the second quarter valued at approximately $311,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Blue Nile by 1.1% in the second quarter. JPMorgan Chase & Co. now owns 9,327 shares of the company’s stock valued at $256,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 92.75% of the company’s stock.

Blue Nile Company Profile

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

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