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

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 equities research analysts have also recently commented on NILE. William Blair initiated coverage on Blue Nile in a research note on Friday, June 10th. They set a market perform rating for the company. TheStreet raised Blue Nile from a hold rating to a buy rating in a research note on Monday, September 12th. Two equities research 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. Blue Nile has an average rating of Hold and an average price target of $25.67.

Blue Nile (NASDAQ:NILE) opened at 35.81 on Thursday. 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. The firm has a market cap of $415.97 million, a price-to-earnings ratio of 41.07 and a beta of 0.54.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. acquired a new position in Blue Nile during the second quarter worth about $2,882,000. Hosking Partners LLP boosted its position in Blue Nile by 15.1% in the second quarter. Hosking Partners LLP now owns 183,420 shares of the company’s stock worth $5,022,000 after buying an additional 24,029 shares during the last quarter. American Century Companies Inc. acquired a new position in Blue Nile during the second quarter worth about $330,000. BNP Paribas Arbitrage SA boosted its position in Blue Nile by 107.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,689 shares of the company’s stock worth $101,000 after buying an additional 1,912 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Blue Nile by 1,894.5% in the first quarter. Royal Bank of Canada now owns 3,989 shares of the company’s stock worth $103,000 after buying an additional 3,789 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Blue Nile Company Profile

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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