Shares of Shake Shack (SHAK) - Get Shake Shack, Inc. Class A Report may be best remembered for the epic rally from the low- to mid-$40s to north of $90 per share in 2015. Since then, though, the stock has flat lined, trading between $30 and $40 per share for most of the past year.

Investors want to know if this will finally be the quarter to break the stock out of its range when Shake Shack reports earnings on Wednesday after the close.

"I have not liked the stock," TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange Tuesday. Simply put, "we have too many restaurants," he added.

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With that said, Shake Shack does have good international exposure and a great concept, Cramer reasoned. Its founder, Danny Meyer, is a restaurant icon and the stock is an excellent long-term hold at the right price.

That's the key, Cramer said. While Shake Shack may be a good long-term position, investors need to acquire the stock at the right price. Currently in the mid-$30s, this does not appear to be the time to buy it, he concluded.

Analysts expect the company to earn 9 cents per share on $70.68 million in revenue for the quarter.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.