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 fluid handling solutions specialist Graco (NYSE: GGG) climbed 10% today after its quarterly results easily topped Wall Street expectations.

So what: Driven largely by a 35% sales jump in Asia Pacific, Graco posted a first-quarter profit of $37.3 million, or $0.61 per share, versus the average analyst estimate of just $0.44 per share. The shares are hitting a new 52-week high on the report, so it's obvious that Mr. Market is taking the strong results as a sign of even more good things to come.

Now what: Don't let today's rally keep you from looking into Graco. While top-line comparisons are certainly getting tougher, CEO Patrick McHale is "optimistic that sales momentum will continue throughout 2011." Of course, with Graco expected to grow its bottom line at a compounded rate of 20% over the next five years, the company's short- and long-term prospects seem attractive. 

Interested in more info on Graco? Add it to your watchlist.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.