NEW YORK ( TheStreet) -- Jo-Ann Stores (NYSE: JAS) hit a new 52-week high Tuesday as it traded at $60.89 compared with its previous 52-Week high of $60.88. Jo-Ann Stores is changing hands at $60.85 with 267,837 shares traded as of 12:11 p.m. ET. Average volume has been 618,300 shares over the past 30 days. Jo-Ann Stores has a market cap of $1.6 billion and is part of the services sector and specialty retail industry. Shares are up 1% year to date as of the close of trading on Monday. Jo-Ann Stores, Inc. operates as a specialty retailer of fabrics and crafts in the United States. The company has a P/E ratio of 18.2, equal to the average specialty retail industry P/E ratio and above the S&P 500 P/E ratio of 17.5. TheStreet Ratings rates Jo-Ann Stores as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Jo-Ann Stores Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.