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 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. “
A number of other research analysts have also recently weighed in on the stock. TheStreet raised shares of Blue Nile from a “hold” rating to a “buy” rating in a research note on Monday, September 12th. William Blair reissued a “market perform” rating on shares of Blue Nile in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.50.
Blue Nile (NASDAQ:NILE) traded up 0.27% on Friday, reaching $40.35. The company’s stock had a trading volume of 55,708 shares. The firm has a 50 day moving average price of $36.89 and a 200 day moving average price of $31.69. Blue Nile has a 52 week low of $22.33 and a 52 week high of $41.39. The stock has a market capitalization of $471.97 million, a P/E ratio of 49.75 and a beta of 0.02.
Blue Nile (NASDAQ:NILE) last issued its earnings results 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. Blue Nile had a net margin of 2.02% and a return on equity of 59.32%. The company earned $105.10 million during the quarter, compared to analysts’ expectations of $107.75 million. During the same period last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts anticipate that Blue Nile will post $0.87 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its stake in Blue Nile by 4.5% in the third quarter. Credit Suisse AG now owns 16,587 shares of the company’s stock valued at $571,000 after buying an additional 717 shares during the last quarter. Empire Capital Management L.L.C. purchased a new stake in Blue Nile during the third quarter valued at approximately $343,000. Capital World Investors purchased a new stake in Blue Nile during the third quarter valued at approximately $25,918,000. The Manufacturers Life Insurance Company purchased a new stake in Blue Nile during the third quarter valued at approximately $274,000. Finally, Principal Financial Group Inc. boosted its stake in Blue Nile by 3.6% in the third quarter. Principal Financial Group Inc. now owns 84,614 shares of the company’s stock valued at $2,912,000 after buying an additional 2,924 shares during the last quarter. 87.30% of the stock is owned by hedge funds and other 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.