Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Quoth the raven, "Buy some more?" Shares of Raven Industries (Nasdaq: RAVN), a provider of specialty products to the agricultural, aviation, and construction industry, are soaring 11% as of this writing following strong first-quarter earnings.

So what: For the quarter, total revenue grew by 16% to $117.9 million while earnings grew 21% to $1.04 per share from $0.86 in the year-ago period. These results crushed Wall Street's expectations for a profit of $0.89 and revenue of $112.4 million. Raven noted that agricultural and international sales were the greatest growth drivers, while its Aerostar division suffered from an uncertain federal spending environment and may continue to do so.

Now what: Raven is a thinly traded company, so these big moves need to be taken with a grain of salt, because it doesn't take much to move this stock. However, today's move seems pretty fair considering the thumping it put on Wall Street's consensus figures. With no debt on its balance sheet, Raven is a well-managed company, but considering it goes for 19 times forward earnings and faces the prospect of a spending slowdown for its Aerostar segment, I'd just as soon pass for now.

Craving more input? Start by adding Raven Industries to your free and personalized Watchlist so you can keep up on the latest news with the company.