Blue Nile Inc. (NILE) Raised to Hold at Zacks Investment Research
Blue Nile Inc. (NASDAQ:NILE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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 equities analysts have also issued reports on the company. TheStreet upgraded 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 report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.67.
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Shares of Blue Nile (NASDAQ:NILE) opened at 35.49 on Wednesday. Blue Nile has a one year low of $22.33 and a one year high of $39.00. The firm has a 50 day moving average price of $35.16 and a 200 day moving average price of $29.23. The company has a market capitalization of $412.25 million, a P/E ratio of 40.70 and a beta of 0.46.
Blue Nile (NASDAQ:NILE) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business earned $113.77 million during the quarter, compared to the consensus estimate of $113.95 million. During the same quarter in the previous year, the business posted $0.20 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts predict that Blue Nile will post $0.88 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new stake in Blue Nile during the second quarter valued at $2,882,000. Harber Asset Management LLC bought a new position in shares of Blue Nile during the second quarter valued at approximately $690,000. Hosking Partners LLP increased its position in shares of Blue Nile by 15.1% in the second quarter. Hosking Partners LLP now owns 183,420 shares of the company’s stock valued at $5,022,000 after buying an additional 24,029 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Blue Nile during the first quarter valued at approximately $586,000. Finally, University of Notre Dame DU Lac increased its position in shares of Blue Nile by 73.0% in the first quarter. University of Notre Dame DU Lac now owns 49,996 shares of the company’s stock valued at $1,285,000 after buying an additional 21,101 shares during the last quarter. 92.45% of the stock is currently 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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