How the Market is Reacting To Acacia, iRobot, Fitbit, and More Today

Hershey Co (NYSE:HSY) shares are moderately higher after David Driscoll of Citigroup upgraded the stock to ‘Buy’ from ‘Neutral’. Although he also cut his price target on its shares to $110 from $115, Driscoll thinks the impending announcement of an expense savings program could increase margins by as much as 300 basis points and be a positive catalyst that improves sentiment towards the stock. 28 funds that we track had a long position in Hershey Co (NYSE:HSY) at the end of the second quarter, up by seven funds from the end of the first quarter.

In other analyst-related news, Fitbit Inc (NYSE:FIT) is in the spotlight after Nick McKay of Wedbush commented that he expects the fitness technology company to beat the Street’s consensus third quarter estimate due to robust consumer demand for Fitbit’s catalog products, and the company’s increased retail presence. McKay thinks the company’s Charge 2 numbers will come in strong, and he expects Fitbit to also increase its guidance. Wedbush has an ‘Outperform’ rating and $18 price target on the stock. Fitbit Inc (NYSE:FIT) was held by 29 of the hedge funds tracked by Insider Monkey as of the end of June.

iRobot Corporation (NASDAQ:IRBT) shares are in the green after Bobby Burleson of Canaccord hiked his price target on them to $53 from $45 and maintained his ‘Buy’ rating on them. Burleson believes demand for the roomba and other similar products will remain strong as consumer awareness over robotic vacuums increases. iRobot reported better-than-expected top and bottom-line earnings for its third quarter on Tuesday, which helped propel the stock close to a 52-week high. 15 funds tracked by Insider Monkey owned $72.67 million in iRobot Corporation (NASDAQ:IRBT) shares on June 30, compared to eight funds with $77.14 million in holdings on March 31.

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