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The Clorox Company’s (CLX - Analyst Report) strong revenue generating capabilities, impressive quarterly beats and upbeat outlook facilitated it to record a new 52-week high for the 2nd consecutive week.

After attaining a 52-week high of $88.63 on Thursday, Mar 28, shares of this consumer products company further soared to touch a new high of $89.33 yesterday. Shares eventually closed at $89.17, rising 21.4% year to date. The company currently trades at a forward P/E of 20.58x, at par with the peer group average.

Alongside, companies like Tiffany & Co. (TIF - Analyst Report), News Corporation (NWSA - Analyst Report) and Avis Budget Group, Inc. (CAR - Analyst Report) crafted new 52-week highs of $72.48, $31.13 and $29.53, respectively on Tuesday.

Clorox's diversified portfolio of brands positions it well to generate above-average industry growth amid a challenging environment. The company’s rigorous research & development process, marketing strategies, financial control, and operating leverage further strengthen its brands and facilitate it to generate long-term profitability, which is well evident from its record of beating the quarterly earnings expectations.

If we look at the company earnings surprise history, Clorox has surpassed the Zacks Consensus Estimate in the last 9 quarters. In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 11.1%.

Going forward, Clorox expects to sustain its growth momentum through market share gains and product innovation. The company raised its sales growth forecast to 3%–5% for fiscal 2013 from 2%–4% projected earlier.

In fiscal 2013, the company expects operating income margin to expand 25–50 basis points (bps) on the back of efficient cost savings, price increases and flat commodity costs. Further, Clorox raised its fiscal 2013 earnings guidance range to $4.25–$4.35 per share from the previous range of $4.20–$4.35.

Currently, shares of Clorox maintain a Zacks Rank #2 (Buy).

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