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 pump maker Sauer-Danfoss (NYSE: SHS) and several of its peers are rallying today on news that a General Electric (NYSE: GE) subsidiary has been selected to help BP's (NYSE: BP) Iraq division re-inject water into the oil-producing Rumaila field using pumps, turbines, and related equipment.

So what: Regional outlet Meed reported the news this morning, which appears to have ignited not just shares of Sauer-Danfoss but also Flowserve (NYSE: FLS) and Europe's KSB. All three manufacture pumps and hydraulic equipment.

Now what: Early trading had Sauer-Danfoss up more than 10%, but the stock has since settled, up about 6% as of this writing. Yet, even with the rally, investors are paying just 0.76 times sales and five times trailing earnings to own a slice of the business. Those numbers are only fair if you think analysts are wrong and Sauer-Danfoss won't grow earnings 14% annually over the next five years. What's your take? Would you buy shares of Sauer-Danfoss at current prices? Please weigh in using the comments box below.

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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.