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: Shares of CAI International (NYSE:CAP) fell as much as 14% today after the company released earnings.

So what: Revenue jumped 29% in the quarter, to $51.0 million, coming just short of the $51.4 million estimate. Net income was up 12%, to $16.1 million, or $0.71 per share, falling short of the $0.76 estimate from Wall Street. 

Now what: Rental revenue drove the large revenue increase as management continues to buy assets. One of the big downsides was that utilization fell in the quarter, something management expects to remedy as the year goes on. I don't think the quarter was as bad as the market does today, and think a 6.3 forward P/E ratio is low enough to buy on today's discount.

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Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.