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 electrical equipment maker AZZ (NYSE: AZZ) soared 16% today after its quarterly results and guidance easily topped Wall Street estimates.

So what: AZZ shares have been on fire over the past year on robust demand for its services, and today's big beat -- EPS of $0.62 versus the consensus of $0.52 -- suggests that the momentum isn't slowing anytime soon. Revenue at its galvanizing business jumped 24%, while electrical and industrial products revenue doubled, giving investors plenty of optimism over AZZ's growth prospects going forward.

Now what: Management now sees 2013 adjusted EPS of $2.25-$2.40 on revenue of $575 million-$600 million, versus its prior view of $2.05-$2.15 and $550 million-$575 million. "We continue our effort to identify product and market expansion opportunities to further enhance our strategic position," said President and CEO David Dingus. With the stock busting through its 52-week high today and trading at a 20-plus P/E, however, I'd wait for a significant pullback before betting on it.

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