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: EnerSys (NYSE: ENS) popped 11% in intraday trading today, after the company reported quarterly EPS of $0.71, trouncing the $0.62 consensus estimate.

So what: Sales grew 21% year over year in the most recent quarter, with 18% growth from organic volume and 3% from pricing. EPS grew 58% year over year, compared to 32% in the prior quarter.

Now what: EnerSys simultaneously raised prices and increased volume, an unusual positive in a still-tepid economy. EPS growth appears to have returned to a healthy trajectory and accelerated in the most recent quarter. Though the stock is near a 52-week high, its reasonable P/E ratio of 15.5 times (based on an intraday price of $36.20) makes this a story worth researching.

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