The Cleanaway Waste Management Ltd (ASX: CWY) share price has risen steadily over the past year, gaining about 20% to close on Thursday at $1.37.
The waste management company has more than 50 years' experience in the industry and operates a network of collection services and processing plants in Australia.
It recently signed a deal to supply waste management services to the Central Coast until 2028.
Cleanaway also says it's taking steps to make its business more environmentally friendly with its commitment to re-refining waste oil products and this year's opening of a new recycling plant in Perth which the company said will address the expanding West Australian population's recycling needs.
But as it claimed to make inroads to improving environmental conditions, Cleanaway was last month slapped with a $30,000 fine by New South Wales Environmental Protection Authority for breaching regulations.
Although the fine was relatively small for a company with a market value of $2.18 billion, perhaps it will make investors and those considering to opt for Cleanaway's services think twice.
Cleanaway's share price has seen steady gains over the past year but it has a long way to go before it hits the $8-mark it was trading at 10 years ago.
And analysts suggest the Cleanaway share price won't be taking off in the near future.
Some analysts have set a 12-month price target for Cleanaway shares of around $1.36, with one tipping the share price to drop to $1.05.
And the outlook is not much brighter for another waste-service provider, Tox Free Solutions Limited (ASX: TOX).
The Tox Free share price has climbed from $2.33 a year ago to close at $2.47 on Thursday.
Unlike Cleanaway, Tox Free's share price is trading at around the same point it was 10 years ago.
But, despite recent signings of lucrative contracts and an increase in revenue from $393.4 million in FY16 to $496.1 million reported for FY17, the outlook for Tox Free is not great.
Some analysts have set a 12-month price target of $2.39, with one offering a low of $2.15.
