hi there,
Prior to 2018, Richelieu was a very steady performer. Then - as you mentioned - it became highly volatile. Interestingly, although the company appeared to have benefit from COVID-19 - it is not turning into as big of an impact as investors might have expected. Case in point, trailing twelve month revenue is just barely above 2019 levels. Through the first 9 months of year, revenue is only up 4.1% - solid, but nothing too explosive.
What I do like, is the company has started to ramp up the M&A. It made 2 deals last quarter and has made 5 through the first nine months of the year. In terms of valuation, the company is trading right inline with historical averages. It is neither expensive, nor cheap and is likely to move inline with expected growth rates (High single to mid teens).
Mat