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

Other research analysts have also recently issued research reports about the stock. William Blair restated a “market perform” rating on shares of Blue Nile in a report on Tuesday, August 9th. TheStreet upgraded shares of Blue Nile from a “hold” rating to a “buy” rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.50.

Blue Nile (NASDAQ:NILE) opened at 40.40 on Friday. Blue Nile has a 12-month low of $22.33 and a 12-month high of $41.39. The company has a market cap of $472.56 million, a P/E ratio of 49.82 and a beta of 0.02. The stock’s 50 day moving average is $36.42 and its 200-day moving average is $31.34.

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 Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $105.10 million for the quarter, compared to analyst estimates of $107.75 million. Blue Nile had a net margin of 2.02% and a return on equity of 59.32%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Analysts predict that Blue Nile will post $0.87 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its position in Blue Nile by 3.0% in the first quarter. Prudential Financial Inc. now owns 45,249 shares of the company’s stock valued at $1,163,000 after buying an additional 1,300 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Blue Nile during the first quarter valued at approximately $586,000. Springbok Capital Management LLC acquired a new position in shares of Blue Nile during the first quarter valued at approximately $170,000. BNP Paribas Arbitrage SA boosted its position in shares of Blue Nile by 107.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,689 shares of the company’s stock valued at $101,000 after buying an additional 1,912 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Blue Nile during the second quarter valued at approximately $330,000. Institutional investors own 92.75% 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

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