Zacks Investment Research upgraded shares of Blue Nile Inc. (NASDAQ:NILE) from a sell rating to a hold rating in a research note published on Friday.

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. “

Several other analysts have also recently commented on the company. TheStreet raised Blue Nile from a hold rating to a buy rating in a report 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $22.50.

Blue Nile (NASDAQ:NILE) opened at 40.29 on Friday. The firm’s 50-day moving average price is $37.07 and its 200-day moving average price is $31.79. The firm has a market cap of $471.27 million, a price-to-earnings ratio of 49.68 and a beta of 0.02. Blue Nile has a 1-year low of $22.33 and a 1-year high of $41.39.

Blue Nile (NASDAQ:NILE) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by $0.01. The business earned $105.10 million during 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 quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts anticipate that Blue Nile will post $0.87 earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Blue Nile by 2.5% in the second quarter. Principal Financial Group Inc. now owns 81,690 shares of the company’s stock valued at $2,237,000 after buying an additional 1,972 shares during the last quarter. Prudential Financial Inc. increased 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 worth $1,430,000 after buying an additional 6,980 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 worth $10,728,000 after buying an additional 1,113 shares in the last quarter. Systematic Financial Management LP increased 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 worth $1,566,000 after buying an additional 5,115 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT acquired a new stake in shares of Blue Nile during the second quarter worth approximately $311,000. 96.48% of the stock is owned by institutional investors.

Blue Nile Company Profile

Blue Nile Inc is a United States-based online jeweler. The Company primarily sells diamonds and fine jewelry online. The Company offers signature diamonds, such as Round, Princess, Emerald, Asscher, and Cushion Hearts & Arrows. The Company offers a range of engagement ring collections, such as Solitaire, Halo, Vintage, Diamond Sidestones, Sapphire Sidestones, Three-Stone, Diamond Preset and Gemstone Preset.

5 Day Chart for NASDAQ:NILE

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