Why Pete Najarian Is Bullish On Sleep Number

Pete Najarian shared with the viewers of CNBC's "Fast Money" his bullish view on Sleep Number Corp (NASDAQ: SNBR). He said the CEO, Shelly Ibach, has done a magnificent job navigating this company for a number of years.

The company has $200 million of free cash flow on a $2 billion market cap and it also has gross margins that are above 60%, said Najarian. He finds that impressive and he likes the fundamental side of the story.

The revenue growth is about 12% and the earnings growth is about 13% and the company bought back just about 50% of its outstanding shares, said Najarian. He thinks management is doing everything right and he believes the stock is going higher.

Sleep Number's stock traded higher by 6.5% to $97.46 at publication time.

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