Zacks Investment Research lowered shares of Blue Nile Inc. (NASDAQ:NILE) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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 subject of several other reports. 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 report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $25.67.

Shares of Blue Nile (NASDAQ:NILE) opened at 35.81 on Thursday. The stock has a market cap of $415.97 million, a PE ratio of 41.07 and a beta of 0.54. Blue Nile has a one year low of $22.33 and a one year high of $39.00. The stock’s 50 day moving average price is $32.81 and its 200-day moving average price is $28.14.

Blue Nile (NASDAQ:NILE) last announced its earnings results on Monday, August 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by $0.03. Blue Nile had a net margin of 2.14% and a return on equity of 71.40%. The company had revenue of $113.77 million for the quarter, compared to analysts’ expectations of $113.95 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts predict that Blue Nile will post $0.88 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Blue Nile by 1.1% in the second quarter. JPMorgan Chase & Co. now owns 9,327 shares of the company’s stock worth $256,000 after buying an additional 105 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Blue Nile by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 37,880 shares of the company’s stock worth $1,038,000 after buying an additional 636 shares in the last quarter. BlackRock Group LTD raised its position in shares of Blue Nile by 5.1% in the second quarter. BlackRock Group LTD now owns 14,519 shares of the company’s stock worth $397,000 after buying an additional 707 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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. Finally, Geode Capital Management LLC raised its position in shares of Blue Nile by 1.5% in the first quarter. Geode Capital Management LLC now owns 82,932 shares of the company’s stock worth $2,132,000 after buying an additional 1,220 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

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.

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