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 transport company TAL International Group (NYSE:TAL) fell as much as 10.6% today after reporting second-quarter earnings.

So what: Quarterly leasing revenue was up 3.2% to $144.7 million but net income was down 22% to $29.4 million, or $0.87 per share. On an adjusted basis, earnings were $0.95 per share but Wall Street analysts were expecting $164 million in revenue and earnings of $0.96 per share.  

To make matters worse for shares, Bank of America/Merrill Lynch downgraded the stock from neutral to underperform and gave it a $45 price target.

Now what: Results may not have hit expectations, but they weren't far off, and shares are trading at just 10.6 times forward earnings estimates. That's not a bad price in a fairly stable business like transport that's seeing a slow uptick in demand. I wouldn't be a panic seller today, even if the market and analysts aren't a fan of the stock.

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Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America. 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.