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 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.