Zacks Investment Research upgraded shares of Blue Nile Inc. (NASDAQ:NILE) from a sell rating to a hold rating in a research note issued to investors 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 research firms have also weighed in on NILE. TheStreet upgraded Blue Nile from a hold rating to a buy rating in a report on Monday, September 12th. William Blair restated 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 issued a hold rating and two have assigned a buy rating to the company’s stock. Blue Nile presently has an average rating of Hold and an average target price of $22.50.

Blue Nile (NASDAQ:NILE) opened at 40.43 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 $472.91 million, a P/E ratio of 49.85 and a beta of 0.02. The firm’s 50-day moving average price is $37.21 and its 200-day moving average price is $31.99.

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

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Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised 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 in the last quarter. Penserra Capital Management LLC raised its position in shares of Blue Nile by 0.9% in the third quarter. Penserra Capital Management LLC now owns 3,024 shares of the company’s stock valued at $104,000 after buying an additional 26 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Blue Nile by 8.7% in the third quarter. Wells Fargo & Company MN now owns 3,935 shares of the company’s stock valued at $135,000 after buying an additional 316 shares in the last quarter. Riverhead Capital Management LLC raised its position in shares of Blue Nile by 300.0% in the second quarter. Riverhead Capital Management LLC now owns 4,312 shares of the company’s stock valued at $164,000 after buying an additional 3,234 shares in the last quarter. Finally, Springbok Capital Management LLC purchased a new position in shares of Blue Nile during the first quarter valued at about $170,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

About Blue Nile

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.

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