Shares of fast-casual chain Shake Shack spiked on Friday, and investors may want to take profits on the jump, CNBC "Fast Money" trader David Seaburg said.

"This stock is so overvalued it's ridiculous," he said.

Shake Shack has still fallen nearly 20 percent in the last month. The stock, which late last month traded at less than half the value of its 52-week high, possibly rallied on short covering and remains "expensive," said trader Guy Adami.

Adami would instead look to struggling fast food behemoth McDonald's, which continues efforts to restructure and boost sales. The chain recently announced it would start serving all-day breakfast throughout the U.S. in October.

"Maybe this all-day breakfast thing will catch on and take it higher," Adami said.

Read MoreHere is when McDonald's all-day breakfast is coming

Trader Tim Seymour, whose firm Triogem Asset Management owns McDonald's stock, said it has "a lot more room to run."

Disclosures:

Tim Seymour

Tim Seymour is long AAPL, BAC, CLF, DIS, F, GE, GM, GOOGL, INTC, JPM, T, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.

Brian Kelly

Brian Kelly is long BBRY, GLD, TWTR calls, Bitcoin, U.S. Dollar, Crude Oil; he is short British Pound, Euro, Yen, Yuan, US Treasuries.

Guy Adami

Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group Inc.