NEW YORK (TheStreet) -- Shares of Trinity Industries (TRN) - Get Report are jumping by 6.51% to $19.79 on heavy trading volume Friday afternoon, even though the Dallas-based company posted weaker-than-expected results for the 2016 first quarter.
After yesterday's closing bell, the diversified industrial company reported earnings of 64 cents per diluted share, which did not meet analysts' expectations of 69 cents per share.
Revenue for the quarter was $1.2 billion, missing Wall Street's estimates of $1.3 billion.
"Trinity's first quarter financial results reflect the deterioration in demand for a number of our products," CEO Timothy Wallace said in a statement.
"We are continuing to reposition and streamline our operations based on current demand levels. Trinity is a much stronger company today than in previous market downturns," he added.
For 2016, the company forecasts earnings per share between $2 and $2.30, in line with analysts' projections for earnings of $2.23 per share.
Trinity owns businesses providing products and services to the energy, transportation, chemical and construction sectors.
About 3.86 million of the company's shares were traded by this afternoon compared to its average volume of 1.98 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels.
However, the team also finds weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TRN