NEW YORK (TheStreet) -- Shares of Trinity Industries Inc (TRN) - Get Report are sinking, down 11.51% to $29.52 on more than double its normal trading volume Friday afternoon, despite the industrial products company's better than expected first-quarter earnings results, released late yesterday.
For the first quarter, the company earned $1.13 per share, down from the $1.42 per share it reported in the same quarter of last year.
Revenue for the quarter rose to $1.63 billion from $1.46 billion a year ago.
Both the top and bottom line surpassed Wall Street earnings estimates of 96 cents per share on revenue of $1.58 billion for the quarter, according to analysts polled by Thomson Reuters.
Trinity Industries also raised its full year 2015 outlook.
It now sees earnings of between $4.10 to $4.45 per share, up from its previous guidance of between $4 to $4.40 per share. The consensus estimate currently calls for 2015 earnings of $4.30 per share.
Still, shares are taking a hit Friday following news that the U.S. Department of Justice is investigating the role of Trinity's guardrail systems in at least eight deaths, Bloomberg reported Tuesday.
Federal investigators are also looking into Trinity's relationship with the Federal Highway Administration. In March, Trinity's ET Plus system passed crash tests ordered by the FHWA, Bloomberg added.
About 6.17 million shares of Trinity have exchanged hands as of 12:08 p.m. ET today, compared to its average daily trading volume of about 2.55 million shares a day.
Dallas, TX-based Trinity Industries is an industrial company that manufactures and sells products and services including railcars and railcar parts, the leasing of railcars, inland barges, structural wind towers, and highway products.
Separately, TheStreet Ratings team rates TRINITY INDUSTRIES as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRINITY INDUSTRIES (TRN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
You can view the full analysis from the report here: TRN Ratings Report